Robinhood CEO Vlad Tenev launched tokenized stocks for OpenAI at Cannes, aiming to make private equity accessible to retail investors. Tokenized stocks wrap traditional equities in blockchain, allowing easier trading. However, OpenAI clarified that these tokens are not equity and did not partner with Robinhood, urging caution among investors. Tenev conceded the tokens are not technically equity but insists they provide exposure to private assets. The product is currently limited to the European Union, but discussions on tokenized stocks are anticipated to grow as the concept has gained traction in the crypto space.
At Cannes, Vlad Tenev announced Robinhood's tokenized stocks for OpenAI, claiming it makes investing in private companies accessible to retail investors.
Robinhood's OpenAI tokens do not represent equity according to OpenAI, warning investors about the lack of endorsement and actual equity status.
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