Robinhood CEO Vlad Tenev mentioned the platform could require blockchain know-how to function 24/7. In an interview with Yahoo Finance, Tenev famous that 24/7 buying and selling is troublesome to function on conventional infrastructure.
In accordance with TENEV, the platform already operates 24/7 buying and selling, permitting customers to make use of it 24/7 on weekdays. Nonetheless, he identified that setting that is sophisticated, which is why it's not but supplied on most different inventory buying and selling platforms. He added that it’s unclear whether or not individuals within the Robinhood market are making ready for the 24/7 market.
Tenev mentioned:
“24/7 will probably be robust on conventional infrastructure. However when you concentrate on tokenization, that's one of many advantages for each retail and institutional shoppers when blockchain strikes in a 24/7 path.”
The CEO's assertion that Robinhood might undertake blockchain know-how will not be totally shocking and is consistent with earlier strikes by the corporate. Over the last income name, the corporate revealed that it was already utilizing Stablecoins for settlements on weekends when monetary establishments weren’t open.
Robinhood is bullish about encryption and tokenization
In the meantime, TENEV is selling cryptographic, blockchain know-how and tokenization as the following frontiers of monetary merchandise. He just lately wrote on Bloomberg TV that Robinhood's aim is to turn into a platform the place customers can spend money on what they need, and the best way they do that is to symbolize real-world belongings.
He additional mentioned that Robinhood will speed up the adoption of crypto by offering extra belongings, investing in Robinhood wallets, integrating bitstamps to entry the establishment's crypto market and supporting tokenization.
Naturally, Robinhood now positions itself as one of many main compliant platforms for buying and selling crypto by retail buyers. We just lately listed ARB's Arbitrum Token and raised our listing of digital belongings to 23 cryptocurrencies.
The corporate just lately introduced the Robinhood Trivia, awarding the winner a $2 million BTC in two days. On the primary day of the competitors, 615 folks cut up the $1 million BTC, and 754 folks cut up the $1 million BTC on the second day. TENEV complains about how one of many winners can use AI chatbots to enter the competitors.
Up to now, that custody standing has been useful to the corporate. TENEV was one of many invites to Crypto's White Home roundtable choice. The Securities and Trade Fee (SEC) has already dropped its investigation into Robin Hood Cryptocurrency with out enforcement motion in opposition to the corporate. The corporate's inventory meals has additionally risen 19% this 12 months.
The inventory trade is scheduled to begin buying and selling 24 hours a day
In the meantime, conventional inventory exchanges are additionally in search of 24/5 buying and selling. CBOE International Market, which operates the Chicago Board of Administrators Choices Trade (CBOE), and InterContinental Trade, which operates the New York Inventory Trade (NYSE), have already introduced plans.
Nasdaq joined them just a few days in the past, and its president, Tal Cohen, mentioned that if the regulators approve it and its infrastructure supplier is prepared, Nasdaq shares can commerce 24/5 by the second half of 2026.
Cohen on the Nasdaq Mission (Supply: LinkedIn's Tal Cohen))
Cohen added:
“The promise of a 24-hour buying and selling might make our market extra accessible, however it additionally requires cautious and cautious planning. Liquidity, transparency and integrity stay the lifelines of a vibrant market.”
He additional defined that the choice to supply 24/7 buying and selling is predicated on progress in know-how, international demand for US shares, and elevated retail participation.
