OpenAI denies involvement in Robinhood’s tokenized equity launch on Arbitrum

Key Takeaways

OpenAI denied any involvement or endorsement of Robinhood’s tokenized equity launch on Arbitrum.
Robinhood introduced over 200 tokenized equities on Arbitrum, including OpenAI, Microsoft, and Nvidia, targeting European clients.

OpenAI has denied any connection to Robinhood’s tokenized equity launch on Arbitrum, stating it did not authorize or endorse the creation of “OpenAI tokens” on the blockchain platform.

“These ‘OpenAI tokens’ are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it,” OpenAI posted on X on Wednesday. “Any transfer of OpenAI equity requires our approval—we did not approve any transfer.”

Robinhood has recently expanded its offerings to include tokenized US stock and ETF tokens in the European Union, providing users with a new investment opportunity in more than 200 US equities.

The firm has deployed approximately 213 tokenized equities on the Arbitrum blockchain, including stocks of Microsoft, Nvidia, and OpenAI. Blockchain data shows the tokens were minted for just over $5 in gas fees, averaging about three cents each.

The initiative follows similar moves by centralized exchanges Bybit and Kraken, which recently started offering tokenized stock products through Backed Finance’s xStocks. More than 60 stocks are now available across Bybit, Kraken, and several Solana-based DeFi platforms, including Apple, Tesla, Meta, and Robinhood shares.

The Securities Industry and Financial Markets Association (SIFMA) has urged the US SEC to reject tokenized equity products launched through exemptive relief, calling instead for a transparent, public process.