Robinhood CEO Vlad Tenev 表示，代币化可以通过“接入数亿加密市场参与者组成的全球网络”来解决流动性问题。Robinhood 正在推出自己的加密代币，包括与 OpenAI 和 SpaceX 挂钩的代币，旨在让散户投资者获得更多私人公司的投资机会。Tenev 表示欢迎欧洲监管机构的审查。

Robinhood CEO Vlad Tenev said tokenization could solve the issue of liquidity "by tapping into a global network of hundreds of millions of crypto market participants." Robinhood is launching their own crypto tokens, including tokens linked to OpenAI and SpaceX, hoping to give retail investors more access to private companies. Tenev says he’s welcoming scrutiny by European regulators. He speaks with Bloomberg’s Francine Lacqua in London.
00:00 - Vlad Tenev on products for EU stock tokens, giveawa...

Robinhood CEO Vlad Tenev: European Stock Tokens & Global Crypto Access

Robinhood CEO Vlad Tenev：欧洲股票代币与全球加密货币准入

AI-generated — Ollama qwen2.5:7b + glossary

AI translation — Ollama qwen2.5:7b + domain glossary (proper nouns kept in English)

我们上周一在法国南部发布了几款产品，这些产品是面向欧盟股票代币的，可以接触到公开上市的股票。

We 有超过 200 个，而且 245 个可供使用。

最终让我们的欧洲客户有机会接触美国股票。

然后我们进行了一次美股投资。

然后我们做了一个赠送活动，赠送我们所谓的“私人库存”代币，这些代币来自 OpenAI 和 SpaceX。

以下几种译法都可以，根据具体语境选择： 建议优先选择第一个，除非明确知道不是指代币。

What we announced last Monday in the south of France are several products for south of France are several products for the EU stock tokens which give exposure the EU stock tokens which give exposure to public uh listed equities.

We have over 200 and those are available 245.

Finally giving our European customers Finally giving our European customers exposure to US stocks.

And then we did a giveaway of what we call private stock giveaway of what we call private stock tokens of OpenAI and SpaceX.

And those aren't tradable yet, but it's sort of uh aren't tradable yet, but it's sort of uh testing the waters, if you will, for testing the waters, if you will, for what we believe is a huge opportunity to what we believe is a huge opportunity to resolve one of the biggest inequities in resolve one of the biggest inequities in capital markets, which is the fact that capital markets, which is the fact that you have these massive companies that you have these massive companies that are staying private longer.

In many cases, they're in frontier industries cases, they're in frontier industries like AI, where we believe that could like AI, where we believe that could change everything, but retail investors change everything, but retail investors can't get exposure.

So the regulator in Lithuania which So the regulator in Lithuania which you're regulated by I mean he looks at you're regulated by I mean he looks at the offering and the and he calls you the offering and the and he calls you and asks you what.

I think I think they have some questions.

You know they want to make sure that everything is proper because sure that everything is proper because it's a it's a new innovative offering it's a it's a new innovative offering and we're confident.

We think that these are not only important but they'll are not only important but they'll withstand the highest form of scrutiny.

you know, when when Robin Hood does you know, when when Robin Hood does anything, particularly if it's new, uh I anything, particularly if it's new, uh I think we expect that it's going to be think we expect that it's going to be looked over.

So, we we do believe that it's important and will ultimately it's important and will ultimately withstand the scrutiny.

So, we welcome the discussions with the regulators as the discussions with the regulators as always.

Were they worried about risk or the way Were they worried about risk or the way it was packaged and have you been able it was packaged and have you been able to assuage or is this just I mean, when to assuage or is this just I mean, when are you expecting to launch some of are you expecting to launch some of these tokens?

Yeah, so um at first they were in the Yeah, so um at first they were in the form of a giveaway.

So we so we gave away around uh a million dollars worth away around uh a million dollars worth of OpenAI tokens, 500,000 worth of uh of OpenAI tokens, 500,000 worth of uh SpaceX and the idea would be to SpaceX and the idea would be to eventually allow for them to be traded eventually allow for them to be traded by customers and also to greatly expand by customers and also to greatly expand the realm of tokens that we offer.

We'd like to have thousands of private like to have thousands of private companies on the platform accessible to companies on the platform accessible to retail.

And actually since our announcement, I've had a deluge of uh of announcement, I've had a deluge of uh of inquiries, private companies that inquiries, private companies that actually want to access retail, to have actually want to access retail, to have their their shares tokenized, to be a their their shares tokenized, to be a part of this revolution.

So I I think I think that it's going to be a thing.

Of course, it's always difficult to be course, it's always difficult to be first.

Um but I I think this is so important that we're going to we're very important that we're going to we're very motivated to to find a great way that motivated to to find a great way that satisfies everyone.

And did you speak to any other regulators prior to you know any other regulators prior to you know developing these or launching the stock developing these or launching the stock tokens for for private companies?

Well, so they're live in the European Well, so they're live in the European Union, not live in the UK or the US yet, Union, not live in the UK or the US yet, Union, not live in the UK or the US yet, although we're very keen to to find a although we're very keen to to find a way to give retail exposure to private way to give retail exposure to private companies here.

And of course, we have ongoing discussions with all of our ongoing discussions with all of our regulators as part of the the course of regulators as part of the the course of running a regulated business running a regulated business and and and confident that they'll be and and and confident that they'll be happy with it.

I mean, it'd be wildly exciting, right, if it were, for exciting, right, if it were, for example, launched in the UK.

What kind of things are they asking you to do to of things are they asking you to do to make sure that that it's fine to do?

Yeah, I mean, I'm I'm not sure the full Yeah, I mean, I'm I'm not sure the full extent of their questions.

They probably just want to make sure that everything's just want to make sure that everything's clear to customers.

new products and uh my my assumption is they just want to make my assumption is they just want to make sure that they are available to sure that they are available to customers and it's clear what customers customers and it's clear what customers are getting.

So in that way I think we're very aligned because we want those we're very aligned because we want those same things and we we do think that the same things and we we do think that the product is is clear and is useful.

So Van, how exactly are these token you So Van, how exactly are these token you know the tokens are structured compared know the tokens are structured compared to the underlying assets?

So the the way tokenization works is uh we hold the way tokenization works is uh we hold the underlying uh or it's held by a US the underlying uh or it's held by a US broker or other traditional financial broker or other traditional financial business and then we have a tokenization business and then we have a tokenization engine which basically mints uh for uh engine which basically mints uh for uh new tokens when customers acquire them new tokens when customers acquire them and if customers want to sell them uh we and if customers want to sell them uh we we burn the tokens.