Robinhood’s new tokenized stock platform has triggered a wave of interest from private companies eager to make their shares tradable on the blockchain. CEO Vlad Tenev revealed that since launching the service in the European Union last week, the company has received a flood of requests from private firms wanting to tokenize their equity and reach retail investors.

The platform currently offers over 200 tokenized U.S. stocks and includes a unique giveaway of non-tradable tokens tied to companies like OpenAI and SpaceX. Although only available in the EU, Tenev emphasized that Robinhood’s long-term vision is to onboard thousands of private companies and help democratize access to early-stage equity.

The move has attracted regulatory attention. The Bank of Lithuania, Robinhood’s EU regulator, has asked for clarification regarding the structure of the token offerings. Tenev welcomed the review, stating the firm is confident in its compliance with Europe’s Markets in Crypto-Assets (MiCA) and MiFID regulations.

The tokens function as derivatives backed by U.S.-based brokers, minted or burned depending on user trades. While unavailable in the U.S. and U.K. for now, Robinhood is in ongoing discussions with both jurisdictions. Tenev believes U.S. approval could come without new legislation.

Industry experts, including Galaxy Digital, say this move could disrupt traditional markets like the NYSE by pulling liquidity onchain.

Robinhood’s entry adds to a growing list of tokenization initiatives. BioSig Technologies just secured $1.1 billion to tokenize commodities, and QCDT became the first tokenized money market fund approved in Dubai’s financial hub. The global shift to onchain assets is accelerating—and Robinhood is leading the charge.