The Book · 27 Jul 2026
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The asset

Stock Tokens, explained

Robinhood's tokenised equities: ERC-20 debt securities issued by Robinhood Assets (Jersey) Limited, priced by Chainlink and adjusted for dividends and splits onchain. What you hold, what you don't, and how to tell a canonical token from a lookalike.

The record

Tokenised equities meet a permissionless mempool

Robinhood issues Stock Tokens as carefully wrapped debt securities with Chainlink prices and a legal prospectus. Then it puts them on a permissionless chain where anyone can mint a lookalike. The collision of a curated asset and an open mempool is the chain's defining tension.

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Reading time4 min

Tokenised stocks that trade around the clock — the debt-security wrapper, the price feed, and the ownership caveat.


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