KEY TAKEAWAYS
Robinhood launched over 200 tokenized stock and ETF tokens on the Arbitrum network in June 2025, later deploying its own dedicated Ethereum Layer 2 chain for expanded global trading access.
Kraken acquired Backed Finance in December 2025 and then partnered with Nasdaq to build a comprehensive tokenized equity infrastructure, with xStocks surpassing $25 billion in total transaction volume.
Coinbase debuted four tokenized stocks, …
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