Arcus, a decentralized exchange backed by Robinhood Crypto, launched tokenized stocks and perpetual futures on Robinhood Chain. The platform, built by the team behind dYdX, previously launched spot markets when Robinhood Chain went live on July 1. The expansion adds access to more than 95 stock tokens, perpetual markets and crypto assets through self-custodial trading accounts. The move positions Arcus within the competitive tokenized real-world assets sector, where platforms are converting equities, funds, commodities and indexes into blockchain-based instruments. For Robinhood, the launch adds depth to Robinhood Chain as brokerages and crypto platforms test how far onchain financial products can extend beyond stablecoins and crypto trading.
Arcus Implements Self-Custodial Trading Model
Arcus uses a self-custodial model where users retain control of their assets rather than depositing them with a centralized exchange. The platform uses Privy, a wallet infrastructure provider, to let users create and manage wallets through email or social logins. Users who already hold crypto can connect existing self-custodial wallets, including MetaMask, Ledger and WalletConnect, with support for additional Ethereum-compatible wallets.
USDG, a Paxos-issued stablecoin, serves as the platform's main collateral and settlement asset. The product set includes tokenized versions of major U.S. companies such as Nvidia, Tesla, Apple, Microsoft, Meta, Google and Amazon. Arcus offers perpetual markets tied to equities, exchange-traded funds, commodities, indexes and crypto assets.
Tokenized Stocks Face Jurisdictional Access Restrictions
Arcus stated its stock tokens are unavailable in the U.S., Canada, the UK and other restricted jurisdictions. The restriction applies despite the product being built around tokenized versions of U.S. stocks. Regulators in major markets have been reviewing how blockchain-based representations of traditional assets fit within existing financial frameworks.
The main regulatory questions include whether token holders have direct ownership of the underlying asset, how custody is handled, what disclosures apply, and whether the instruments should trade under securities, derivatives or brokerage rules. Tokenized stocks sit between crypto markets and assets governed by traditional securities law.
Platform Enters Competitive Onchain Market Infrastructure Space
Arcus enters a market where crypto firms and financial platforms are competing to build infrastructure for tokenized real-world assets. Platforms including Uphold have launched trading in more than 4,000 US stocks and ETFs. Arcus packages stock tokens, perpetual futures and crypto assets into one self-custodial account, backed by stablecoin settlement and integrated with Robinhood Chain.
FAQ
What did Arcus launch on Robinhood Chain?
Arcus launched tokenized stocks and perpetual futures on Robinhood Chain, providing access to more than 95 stock tokens, perpetual markets and crypto assets through self-custodial trading accounts. The platform uses USDG, a Paxos-issued stablecoin, as the main collateral and settlement asset.
Why are Arcus tokenized stocks unavailable in the United States?
Arcus stated its stock tokens are unavailable in the U.S., Canada, the UK and other restricted jurisdictions due to uneven regulatory treatment of tokenized securities across major markets. The restriction reflects how securities rules depend on jurisdiction, investor eligibility, custody structure and product design, despite the technology allowing global distribution.
