Robinhood's Blockchain for Tokenized Stocks Overrun by Memecoins

1 sourceFirst reported 8 days agoUpdated 8 days ago

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Robinhood has developed a blockchain called Robinhood Chain for tokenized stocks.
Since its launch on July 1, the Robinhood Chain has attracted $135 million in value and has 800,000 addresses.
Despite the initial purpose of the chain, it is predominantly being used for memecoins rather than tokenized stocks.
Reports indicate that very few transactions on the platform align with its intended use.

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Robinhood built a blockchain for tokenized stocks. Memecoins took overCoinDesk · 8 days ago

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AI summary: catch up in 20 seconds

Robinhood has developed a blockchain called Robinhood Chain for tokenized stocks.
Since its launch on July 1, the Robinhood Chain has attracted $135 million in value and has 800,000 addresses.
Despite the initial purpose of the chain, it is predominantly being used for memecoins rather than tokenized stocks.
Reports indicate that very few transactions on the platform align with its intended use.

Generated by AI from the 1 sources below · always verify with the originals