Robinhood’s Crypto Revenue Nearly Doubles – Here’s What’s Fueling the Surge

Key Points

1. Robinhood's crypto-related revenue surged by 98% year-on-year, with overall net revenue up 45% to $989 million and net income increasing 105% to $386 million.

2. Crypto trading volumes reached $28 billion, a 32% increase from the previous quarter, alongside a 21.7% rise in market cap to $3.36 trillion in after-hours trading.

3. CEO Vlad Tenev highlighted tokenization as a major initiative, enabling instant settlement, 24/7 trading, and self-custody for retail users through Robinhood Chain.

4. Robinhood acquired crypto exchange Bitstamp for $200 million to support its tokenization efforts, following similar moves by Binance and FTX.

5. The SEC has shown openness to tokenization frameworks, with companies like Gemini and BlackRock also exploring tokenized stock and bond offerings.