OpenAI denies involvement or endorsement of Robinhood’s tokenized equity launch on Arbitrum
OpenAI has made it clear that it is not associated with the recent launch of tokenized stocks by Robinhood on the Arbitrum blockchain.
The company stated clearly that it did not approve or support the creation of “OpenAI tokens,” highlighting that these tokens do not stand for OpenAI ownership.
OpenAI stated on X that they did not work with Robinhood on this project and that any transfer of their equity needs their approval, which was not given here.
Robinhood has recently expanded its services to offer tokenized versions of US stocks and ETFs in Europe, enabling users to invest in more than 200 US equities.
The company has launched about 213 tokenized stocks on the Arbitrum blockchain, including popular names like Microsoft, Nvidia, and OpenAI. The blockchain data shows that the tokens were made for very low costs, totaling just over $5 in gas fees, which comes to about three cents for each token.
Robinhood’s decision matches what other centralized exchanges like Bybit and Kraken are doing. They have also started offering tokenized stock products using Backed Finance’s xStocks.
