BiyaPay Analyst: Robinhood's stock price rose 13% due to favourable information on tokenization of stocks.

BlockBeats news, on July 1, Robinhood's stock price rose by 13%, marking its best single-day performance since April 9. Robinhood's CEO announced that the company plans to expand tokenized trading of U.S. stocks from the current 200 to "thousands" by the end of this year. Additionally, Arbitrum (Arb) also rose by 20%, attracting widespread attention in the market.
Robinhood is accelerating the expansion of its cryptocurrency business, planning to launch its own blockchain and introduce "stock tokens" in the EU market. The company recently launched tokenized stock trading products based on the Ethereum Layer 2 network Arbitrum for European users, supporting over 200 US stocks and ETFs and enabling all-day trading on business days. Robinhood stated that this initiative upgrades its European crypto platform to a "crypto-driven all-in-one investment platform." Robinhood is building a Layer 2 blockchain optimized for tokenized assets, which is expected to support all-day trading, self-custody, and cross-chain transfers of tokenized assets.
As a leading cross-border payment platform, BiyaPay also provides users with convenient cryptocurrency trading services. The platform supports spot and contract trading of over 200 cryptocurrencies, including Bitcoin and Ethereum, and offers a zero-fee order trading feature. Even more conveniently, BiyaPay also supports USDT trading for US stocks, Hong Kong stocks, and other global stocks, allowing users to participate in stock trading in real-time without the need to apply for an offshore account.