Stabledash Live · · 21 min
Robinhood Chain Is Live: Tokenized Stocks and 28M Users Already on the App
With 
Philipp Zentner
Key takeaways
LI.FI has routed more than $75 billion in lifetime volume across 60-plus chains, according to Philipp Zentner.
LI.FI was selected as one of two distribution partners for tokenized stocks on Robinhood Chain, whose parent Robinhood has 26 to 28 million users on its app, Zentner says.
LI.FI opened its supply side in May as an intent and solver marketplace where market makers and solvers provide assets.
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Summary
LI.FI's CEO says Robinhood Chain arrives with its demand side already installed, and that tokenization is the natural successor to digitization.
LI.FI, the cross-chain liquidity and orchestration network led by Philipp Zentner, has routed more than $75 billion in lifetime volume across 60-plus chains. When Robinhood launched Robinhood Chain and needed to distribute tokenized stocks from day one, LI.FI was selected as one of two distribution partners.
A chain with users already installed
Philipp Zentner puts Robinhood's audience at 26 to 28 million users on its app. In his view, Robinhood Chain has "the demand set already installed" and offers a platform to build on, a unique opportunity compared to other L1s and L2s that had to build their ecosystems from scratch. He also notes it is a slightly different user group than crypto is used to.
Zentner argues that very big corporations with a huge user base are strongly incentivized to have their own blockchain, just as they are incentivized to have their own stablecoin.
“Tokenization is the natural successor. Now we have that information, but we are adding state to it... tokenization does that in a public fashion and in a fashion that we can essentially trust whatever we see and on a shared ledger at global scale”
Philipp ZentnerPartners on both sides
On the demand side, Zentner says LI.FI serves 200 business partners. A new partnership with Banxa takes users from fiat directly into any onchain asset with no extra swap step, and he says Banxa itself has over 400 B2B partners. Paribu, the Turkish exchange, is also live, with other large partners in the pipeline.
On the supply side, LI.FI opened an open intent and solver marketplace in May, where market makers and solvers can plug in and provide assets. Zentner says its DeFi Composer collapses complex DeFi workflows into one transaction, and that its Jumper.xyz interface is the most used bridging interface in the industry after almost four years. He says there is more to come in the next two weeks.
Why tokenized stocks now
Philipp Zentner credits a change in US sentiment: the Genius Act was the first stablecoin enabler, followed by the Clarity Act and SEC rulings. He says trading stocks 24/7 lets people react to macro events at any time, and he sees Bitcoin moving from a speculative asset toward a portfolio asset that reacts to macro events.
For Philipp Zentner, the bigger story is tokenization itself, which he calls the natural successor to digitization because it adds trusted, public state on a shared ledger at global scale. With traditional finance coming onchain, he says, the chicken and egg problem is solved for other industries and supply chains.
Robinhood, Paribu, Ledger, and Ondo come up most.
- People
- Philipp Zentner
- Drew Rogers
- Zach Fowler
- Companies
- Robinhood
- Paribu
- Ledger
- Ondo
- LI.FI
- Banxa
- Binance
- Dfns
- Kraken
- MetaMask
- Phantom
- STOMT
