BiyaPay analyst: Robinhood stock price rises 13% due to positive news from tokenization stocks

According to BlockBeats, on July 1st, Robinhood's stock price rose 13%, marking its best single day performance since April 9th. Robinhood CEO announced that the company plans to expand the tokenization of US stocks from the current 200 to "thousands" by the end of this year. In addition, Arbitrum (Arb) has also risen by 20%, attracting widespread market attention. Robinhood is accelerating the expansion of its cryptocurrency business, planning to launch its own blockchain and introduce a 'stock token' in the EU market. The company recently launched a tokenized stock trading product based on the Ethereum Layer 2 network Arbitrarum for European users, supporting over 200 US stocks and ETFs and enabling round the clock trading on weekdays. Robinhood stated that this initiative upgrades its European crypto platform to a 'crypto driven all rounder investment platform'. Robinhood is building a Layer 2 blockchain optimized for tokenized assets, which is expected to support 24/7 trading, autonomous custody, and cross chain transfer 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 zero transaction fees for pending orders. More conveniently, BiyaPay also supports USDT trading of global stocks such as US and Hong Kong stocks, allowing users to participate in real-time stock trading without the need to apply for an offshore account.