Latest news with #Kerbrat
CNBC
30-06-2025
- Business
- CNBC
Robinhood gives out tokens of OpenAI and SpaceX. Stock hits record
CANNES — Robinhood stock climbed 10% to an all-time high Monday after the company rolled out tokenized shares of OpenAI and SpaceX to users in Europe as part of a larger crypto rollout. It is the company's first move to make private equity accessible via blockchain. The announcement, which came Monday during the company's product showcase in Cannes, is part of a broader push to expand Robinhood's crypto footprint globally. The tokenized assets will be available exclusively through Robinhood's EU crypto app, where more than 200 tokenized stocks and ETFs are now tradable 24 hours a day, five days a week with no commission or spread. OpenAI and SpaceX stand out since neither company is publicly listed, and access to their equity has historically been limited to insiders and ultra-wealthy investors. "We wanted to make sure we were giving access," said Johann Kerbrat, senior vice president and general manager of crypto at Robinhood. "What we discussed on stage was how to address the inequality between people who've historically had access to these kinds of companies — and everyone else. That's the really exciting part: Now everyone will be able to get it." "The goal with tokenization," he added, "is to let anyone participate in this economy."To mark the launch, Robinhood is giving 5 euros worth of OpenAI and SpaceX tokens to every eligible user in the European Union who onboards to trade stock tokens by July 7. The company has allocated $1 million worth of OpenAI and $500,000 worth of SpaceX for the campaign. This marks the first time Robinhood has tokenized private companies — a milestone made possible, in part, by the EU's more flexible regulatory environment. "There are no accredited investor rules here in the EU, so anyone who qualifies to trade stock tokens is able to access them," Kerbrat explained. While the EU rollout is underway, Robinhood says U.S. users shouldn't expect access anytime soon. Regulatory hurdles — particularly accredited investor restrictions — remain a major barrier to bringing tokenized private equity to the U.S. market. CEO Vlad Tenev has publicly called for reform, arguing that blockchain could unlock broader participation in private markets. The tokenized shares are being distributed via Robinhood's custody wallet into user accounts, part of a broader infrastructure push that also includes the company's new Layer 2 blockchain built on Arbitrum, which were announced the same day. And while American users can't yet access tokenized shares of private companies, they are gaining access to crypto staking. Robinhood also launched staking for Ethereum and Solana in the U.S., a feature that was previously blocked by the Securities and Exchange Commission. The move signals a renewed push to reintroduce yield-bearing crypto products to the domestic market.
CNBC
30-06-2025
- Business
- CNBC
Robinhood grows its global crypto footprint with U.S. stock tokens for the EU
CANNES — Fifteen years after flipping burgers at a McDonald's and teaching himself to code at night in a cramped apartment near the French Riviera, Robinhood crypto chief Johann Kerbrat is back. The last time he lived around Cannes, he was 21 — with no connections, no funding, and no formal business training. But he had a knack for programming and a drive to solve real-world problems. Kerbrat quit his job just before starting university in nearby Nice, and soon after launched his first fintech startup: a no-code payments company built from scratch to help small merchants create e-commerce sites without hiring developers. "It was in my little studio — probably smaller than your bathroom," he said. "Initially, we didn't have any employees, but it was right at the beginning of e-commerce. Back then, if you were a merchant you didn't really have an option, you had to hire an agency and spend tens of thousands of euros. The idea was to let people build their own thing without any technical knowledge — kind of what Shopify is doing now." But the timing was right. The early 2010s brought a boom in online commerce, and Kerbrat's tool gave small merchants a chance to compete. It also opened his eyes to how fragile and expensive the global financial system really was. A classmate from Greece told him how his family's bank accounts had been frozen during the eurozone crisis. Around the same time, merchants using his platform were struggling with high fees, chargebacks, and fraud. And then the Bitcoin white paper landed. "I was like, 'Okay, that's a solution for everything,' " he said Now, from Château de la Croix des Gardes, a Belle Époque mansion perched along the same coastline where he once lived and worked the night shift in fast food, he's part of the most ambitious crypto product suite in Robinhood's history. On Monday the company announced an expanded offering of tokenized U.S. stocks and ETFs across Europe, crypto staking in the U.S., perpetual futures for eligible EU traders, and a new Layer 2 blockchain optimized for real-world asset settlement and 24/7 trading. "It's absolutely surreal," he said, seated inside the iconic Carlton Hotel — a five-star landmark that once felt impossibly out of reach. "When I was younger, I used to walk past this place — and I could have never, never stayed here." The announcement coincides with the Ethereum Community Conference, hosted in Cannes for the first time, and Robinhood's latest regulatory approvals across Europe. Robinhood's latest move is its most serious push yet to blend traditional finance with blockchain-based infrastructure. Kerbrat said the goal isn't to dazzle with features. It's to make crypto disappear into the background. He likened it to plumbing. "You don't think about how water gets to your tap," he said. "You just expect it to be there." But there is still plumbing to build out. At the heart of Monday's launch are tokenized U.S. stocks and ETFs, now available to customers in 30 EU and European Economic Area countries. The tokens — built first on Arbitrum — offer 24/5 access, dividend support, and zero commission or spread from Robinhood. Eventually, they'll migrate to a custom Layer 2 blockchain built to support tokenized assets, seamless bridging, and self-custody. In the U.S., Robinhood is debuting staking for Ethereum and Solana, allowing users to earn rewards by supporting network operations. In Europe, crypto perpetual futures will offer eligible users up to 3x leverage, routed through Bitstamp. Other upgrades include smart exchange routing, tax lot management, and advanced charting tools — all designed to make crypto feel as seamless and intuitive as trading stocks. Shares of Robinhood are up over 100% this year. "When we talk about mass adoption," Kerbrat said, "This is what it looks like. A product people use — without needing to know how it works." For Kerbrat, who spent his adolescence between Cannes and Nice, the return isn't just symbolic. It's a measure of how far he's come — and how much still feels the same. His father worked in IT. His mother stayed home with him and his sister. One day, his dad brought home a clunky old Apple computer with a black-and-white screen and that was the spark. By 7, he was experimenting. By 11, he was programming regularly. And by 17, he was already trying to fix the broken parts of the internet economy he saw around him. His parents, now living further inland, drove in just in time to watch the launch. They remember the early days, he said — the tiny apartment, the first lines of code, the endless conversations with merchants who didn't quite believe his pitch — that anyone could build an e-commerce site without knowing how to code. "We chose Cannes because of licensing, and because the conference was here," he said. "But I'm not going to pretend it doesn't feel good." He paused, letting the moment settle. "I never thought I'd be back here like this."
Yahoo
05-06-2025
- Business
- Yahoo
Robinhood Shares Hit All-Time High Following Bitstamp Deal Closure
Shares of Robinhood Markets, Inc. HOOD touched an all-time high of $72.72 during yesterday's trading session after announcing the completion of the acquisition of global cryptocurrency exchange Bitstamp in 2011, Bitstamp has offices in Luxembourg, the U.K., Slovenia, Singapore and the United States. With this acquisition, Robinhood will be able to significantly enhance its crypto offerings as Bitstamp features more than 85 tradable the deal introduces Robinhood's first institutional crypto Kerbrat, the general manager of Robinhood Crypto, said, 'The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp's highly trusted and long standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors.' For HOOD stock, the surge to a new high has come at a time when stocks and cryptos are witnessing a rebound, with Bitcoin setting fresh records. Riding on the crypto wave, in May, Robinhood agreed to acquire WonderFi, a leader in digital asset products and services in Canada. Thus, the company aims to capitalize on the rising crypto demand among Canadian since Donald Trump was elected President, the demand for crypto has increased as regulators have been easing norms and regulations for firms to venture into digital assets. In March 2025, Trump signed an executive order to establish a strategic crypto reserve. Thus, new investors are being attracted to cryptocurrencies to boost their returns and leverage the benefit of diversification as an asset addition to this, on Feb. 13, 2025, Trump announced a plan for 'reciprocal' tariffs to reduce the fiscal trade deficit. The move brought concerns regarding potential tariff wars, leading to higher market volatility. Though the situation has pacified to some extent in light of a pause on tariffs as countries negotiate, uncertainty continues to linger surrounding the impacts of tariff policies. This heightened volatility has led to increased market participation, which has been contributing to the crypto Robinhood, the heightened volatility in the crypto markets is a positive because it will likely aid its transaction-based the first three months of 2025, HOOD's cryptocurrency revenues were $252 million, constituting 27.2% of the total net revenues. Over five years (2019-2024), the metric witnessed a compound annual growth rate (CAGR) of 140.3%. Robinhood became extremely popular among younger generations, riding on the meme stock wave in early 2021. However, since its IPO in July 2021, the company has taken several steps to evolve from merely being a brokerage firm to a more mature and diversified entity, striving to become a one-stop shop for building generational week, the company rolled out Robinhood Legend, a browser-based desktop trading platform, in the U.K. after launching the same in the United States in October March 2025, Robinhood launched a prediction market hub. In the same month, the company launched Robinhood Strategies, Robinhood Banking and Robinhood Cortex, a suite of new features, to boost the wealth management offerings for its Robinhood Gold members. In January 2025, the company launched Futures, while in December 2024, it introduced the Tax Lots feature for February 2025, Robinhood acquired TradePMR to expand into the registered investment advisor's custody market. In July 2024, HOOD acquired Pluto Capital Inc. With the integration of the latter's advanced capabilities, the former is set to revolutionize the investment experience for its the company launched its first-ever credit card in March rapid product innovation through vertical integration will likely expand HOOD's client base, enabling greater operating leverage and paving the way for sustained profitability. Further, easier regulations for digital asset businesses, along with heightened volatility due to tariff policy concerns, complement HOOD's efforts to improve its top line through product diversification. So far this year, HOOD shares have soared 92.5%, significantly outperforming the industry's 7.6% rally. Image Source: Zacks Investment Research Currently, HOOD carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the finance space are Encore Capital Group, Inc. ECPG and SLM Corporation SLM, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks for ECPG's current-year earnings have been revised 11.6% upward in the past 60 days. The company's shares have lost 21% over the past six for SLM's current-year earnings have been revised 1.6% north in the past two months. The company's shares have gained 24.4% over the past six months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SLM Corporation (SLM) : Free Stock Analysis Report Encore Capital Group Inc (ECPG) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
02-06-2025
- Business
- CNBC
Robinhood's $200 million Bitstamp deal takes it beyond retail trading
Robinhood has officially closed its $200 million acquisition of Bitstamp, bringing one of the world's longest-running cryptocurrency exchanges into its fold and signaling a strategic shift beyond retail trading and into the world of institutions. The all-cash deal, first announced last year, gives Robinhood an immediate international footprint — including more than 50 active crypto licenses across Europe, the UK, and Asia — as well as an established institutional client base, something the retail trading app has long lacked. For Robinhood, the deal marks a move into deeper waters: institutional crypto flows, lending and staking infrastructure, and white-label "crypto-as-a-service," products built for hedge funds, fintechs, and registered investment advisors — all of which require robust systems for custody, price discovery, and settlement. "I wouldn't call it necessarily a pivot," Robinhood Crypto General Manager Johann Kerbrat told CNBC. "For us, it's combining the strengths of the two businesses. We are one of the largest retail marketplaces in the U.S. … They have products that we don't have, like order books, crypto as a service, advanced API and lending and staking and thanks to that, we will be able to get into this space, not starting from scratch." Robinhood, which launched crypto trading in 2018 and helped drive the meme-coin mania of 2021, has in recent months worked to rebrand itself as a serious player in the next phase of digital asset finance — one that's increasingly defined by regulation, institutional capital, and cross-border competition. "Now that we're starting to see the regulatory clarity coming from Congress and the administration, more and more institutions are going to want to get into crypto," added Kerbrat. The Bitstamp deal gives it a head start. Founded in 2011, Bitstamp is known for its deep liquidity, compliant reputation, and minimalist approach. While not flashy, Bitstamp has weathered multiple market cycles and built longstanding relationships with institutional partners across Europe and Asia — something Robinhood plans to leverage. Earlier this month, Robinhood also acquired Canadian crypto firm WonderFi to tap into Canada's established user base. "Robinhood is a marketplace. We don't match orders. And with Bitstamp, we will have a robust product offering that will really allow us to build more on the active trader and advanced trader side of things.," Kerbrat said. "That's going to be a big step for us and really diversify our crypto business, not just from retail in the U.S. — to a global offering," he said. It also gives Robinhood a regulatory on-ramp to Europe, where crypto rules are clearer compared to the fragmented approach in the U.S. The company confirmed it will maintain Bitstamp's existing interfaces and operations for now, while exploring deeper integration over time. Bitstamp is already being used behind the scenes for smart order routing through Robinhood's institutional web platform, Robinhood Ledger. "The flow we're sending to Bitstamp will make Bitstamp more lively — and attract more institutions," Kerbrat said. The acquisition closes at a critical moment for Robinhood. The fintech player has continued to expand aggressively, including listing new tokens, launching staking, and teasing international product rollouts. Bitstamp's regulatory track record and licensing portfolio may offer a measure of insulation as Robinhood pushes further into new international markets. Kerbrat didn't rule out the possibility of other acquisitions. "If we can find a way to accelerate by at least 18 months or two years — and we have a lot of great reason to believe this is a great acquisition — it's something that we'll definitely look at," he said.
Yahoo
13-05-2025
- Business
- Yahoo
Robinhood Enters Canada by Taking Over Crypto Exchange WonderFi for $179M
Robinhood Markets (HOOD), the California-based financial services company, said it agreed to buy Canadian crypto firm WonderFi (WNDR) for $178.98 million. The all-cash acquisition values WonderFi at 36 Canadian cents per share, a 41% premium over its closing price prior to the Tuesday announcement. 'WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood's mission in Canada,' said Johann Kerbrat, head of Robinhood Crypto, in the official announcement. Kerbrat will be speaking at Consensus Toronto on Friday. Robinhood, a popular commission-free brokerage platform, has been looking to expand its international footprint for some time and struck a deal to acquire cryptocurrency exchange Bitstamp last year. The latest acquisition will help it win over Canada-based customers. Toronto-listed WonderFi owns and operates Bitbuy and Coinsquare, two leading crypto platforms in the country. Trading volume on WonderFi, whose CEO Dean Skurka will speak at Consensus on Thursday, increased 28% to C$3.57 billion in fiscal 2024. The deal will bring Robinhood into Canada, ramping up competition for exchanges such as Coinbase and Wealthsimple Crypto. Crypto merger and acquisition activity has picked up the pace with the U.S. President Donald Trump adopting a crypto-friendly approach. Last Week, Nasdaq-listed Coinbase made a bold bet on digital assets derivatives segment, acquiring crypto options giant Deribit in a landmark $2.9 billion deal. UPDATE (May 13, 14:43 UTC): Adds executives' appearances at Consensus Toronto.
