Robinhood stated that stock tokens will support physical redemption and voting rights

Johann Kerbrat, head of cryptocurrency operations at Robinhood, stated on the X platform on Monday that physical redemption and voting rights are on the roadmap for Robinhood Stock Tokens. He mentioned that the first step is to expand the adoption of Stock Tokens, and the team is working on a 1:1 conversion of stocks and granting voting rights to eligible holders. Robinhood CEO Vlad Tenev subsequently retweeted the post.

Currently, Stock Tokens are not stocks but tokenized debt securities issued by a Jersey issuer based on a prospectus, settled in cash upon redemption, and holders do not enjoy shareholder rights such as voting rights. According to the prospectus released on June 25, the issuer may lend the underlying stocks to major borrowers, during which the voting rights will be waived. Kerbrat emphasized that all Robinhood Stock Tokens are backed by real stocks in custody at a 1:1 ratio.

In terms of data, Kerbrat stated that the TVL of Stock Tokens has exceeded $170 million, and the DEX trading volume on Robinhood Chain is close to $50 billion. Robinhood currently offers over 190 stock tokens, with Alpaca Securities as the custodian and Bitstamp Global as the authorized participant. The voting function will be realized through its shareholder participation platform, Say by Robinhood.