The crypto income from Robinhood almost doubles – this is what feeds the wave

Robinhood reported a sharp increase in crypto-related sales for the second quarter. The income of the company of digital assets increased by 98% on an annual basis to $ 160 million.

In general, the company saw an increase of 45% in the net turnover to $ 989 million and an increase of 105% in the net result to $ 386 million.

Robinhood Betting big on tokenization

Trade volumes in crypto reaches $ 28 billion, an increase of 32% compared to the previous quarter, supported by a broader market capitalization of 21.7% to $ 3.36 trillion.

Despite the exception of the expectations of the analysts, Robinhood shares fell somewhat on the market after the hours. A central theme of the company’s profit call was the strong focus of CEO Vlad Teev on tokenization, which he described as the most important innovation on capital markets in more than ten years. Tenev referred 11 times to tokenization during the profit call and emphasized his role in the long -term strategy of Robinhood.

The company is planning to traditionally illiquid or inaccessible Real-World assets, such as private shares, risk capital funds and real estate, to token through his new Ethereum-based Layer 2 network, called Robinhood Chain. This initiative has already seen a European rollout of digital assets, which offers exposure to companies such as SpaceX and OpenAi.

Tenev said that the tokenization would make immediate settlement, 24/7 trade and self -coasts for retail users possible. The push is on the heels of Robinhood’s $ 200 million takeover of crypto exchange bitstamp, which is expected to support its tokenization ambitions.

Tokenization back in focus

With an increased statutory interest and the US Securities and Exchange Commission (SEC) that indicate an openness for tokenization frameworks, Robinhood positions itself as a leader in a space that Momentum has regained after previous expertiments by Binance and the now Defunct FTX.

In June, Gemini, founded by the Winklevoss Twins, introduced tokenized trading services for his European customers, starting with shares of micro strategy. The rival, Coinbase, would be obtained from the SEC process to roll out tokenized stock offer.

Blackrock CEO Larry Fink, of which the company supervises $ 12.5 trillion in assets, has added to the momentum and has also publicly encouraged the securities regulator to both shares and bonds at Greenlightization.