CNBC’s MacKenzie Sigalos reports from Cannes on Robinhood’s boldest crypto move yet — launching tokenized shares of OpenAI and SpaceX, as the company finally begins to deliver on its ambition to bring private equity markets to the blockchain.

New York

Robinhood has launched tokenized shares of OpenAI and SpaceX, two highly sought-after private companies, for users in Europe. This marks a major step in making private equity markets more accessible, as these shares have traditionally been limited to insiders and wealthy investors. The initiative is part of Robinhood's broader European expansion, which includes access to over 200 tokenized U.S. stocks and ETFs, with extended trading hours and dividend support.

In the United States, Robinhood has introduced crypto staking, allowing users to earn yield within the app, a feature previously blocked by regulators. The company is also developing its own blockchain infrastructure, signaling a shift toward building financial systems rather than just listing assets. Regulatory challenges remain, particularly around stablecoin yields, as new U.S. legislation restricts issuers from providing yield to token holders.

Robinhood hits record high as OpenAI, SpaceX go on-chain

CNBC dot coms Mackenzie Gallo says and can con never know exactly how to say it. Mackenzie with more on these big announcements that the whole market is really excited about. It's good to see you. Hey it's good to see you Kelly. And they certainly are because Robinhood just made what may be its most ambitious crypto push yet. For the first time it's offering tokenized shares to open AI and SpaceX two of the most in demand private companies in the world to users across Europe. This is a landmark move because neither company is publicly listed and access to their equity has typically been limited to insiders and ultra wealthy investors. Now this rollout is part of a broader expansion here in Europe. Robinhood is extending access to over 200 tokenized U.S. stocks and ETFs with 24 5 trading and dividend support. Back in the U.S. the company just launched crypto staking a feature that had been blocked by the SEC giving American users a new way to earn yield directly in the app. It is a clear attempt to leapfrog the traditional brokerage stack especially in markets where crypto is live but stock trading is not. And behind it all Robinhood has quietly started building its own block chain. This is Robinhood's first real swing at building the financial rails themselves and not just listing assets. And that is a huge shift. Those shares currently up more than one hundred and thirty percent year to date guys. All right Mac. The other thing about this now we have to talk a little bit about just quickly the way that the stable coin market plays into this entire discussion now because staking is one thing but the yield slash rewards you get in stable coins are also going to be a big part of the story going forward. So how exactly do you feel the regulators are going to tackle this issue in the coming months and quarters. It's a fascinating piece of this because right now the Genius Act which just passed the Senate actually bars these stable coin issuers from providing yield to holders of these tokens. Now the way that certain platforms get around this is Coinbase says hey you can earn a four and a half percent reward on your USDC. So there's this reward infrastructure infrastructure that's being built around them. But so far in the U.S. people who hold these tokens haven't been able to earn interest on them. And so instead companies like Tether are minting billions of dollars in profit every year because they were getting the benefit of Treasury rates being as high as they were for as long as they were. And so that's why you've seen that company which is currently based in El Salvador suddenly becoming a global venture fund investing in everything from Brazilian dairy farms to A.I. and neuroscience companies.

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Kyiv

Ukraine Invasion

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Jerusalem

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Iran Strikes

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