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Robinhood Stock Tokens To Add In-Kind Redemptions
Robinhood outlines roadmap additions for 1:1 share redemptions and proxy voting via Say as Stock Tokens TVL tops $170M.
Robinhood plans to add 1:1 in-kind share redemptions and shareholder voting rights for eligible Robinhood Stock Token holders, according to Johann Kerbrat, SVP and GM of International and Crypto at Robinhood. All Stock Tokens are currently backed 1:1 by physical shares held in custody, with the economic equivalent of dividends added to the asset backing. When a new token mints, Robinhood purchases a share on secondary equity markets.
Kerbrat stated that redemptions and corporate governance features are in active development as the company scales token adoption. Robinhood plans to route shareholder voting through Say by Robinhood, its native shareholder engagement and proxy voting platform. The announcement comes as Robinhood Stock Tokens surpass $170 million in total value locked and near $50 billion in DEX volume on Robinhood Chain.
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