Robinhood has reported a 98% surge in cryptocurrency revenue for the second quarter of 2025, reaching $160 million, as the retail trading platform intensifies its push into asset tokenization and global markets.
The company’s total net revenue soared to $989 million—up 45% year-on-year—with net income more than doubling to $386 million. This robust financial performance exceeded Wall Street’s expectations and highlights the pivotal role of crypto trading in Robinhood’s continued growth.
CEO Vlad Tenev attributed the impressive results to growing interest in tokenized assets, recently unveiling the Robinhood Chain—a blockchain specifically designed for stock trading in Europe. Tenev emphasized tokenization’s transformative power, describing it as the industry’s most significant innovation in a decade. He outlined a strategy focused on giving U.S. retail investors access to alternative assets, such as private equity, venture capital funds, and real estate—areas that have traditionally been off-limits due to regulatory and liquidity hurdles.
The platform’s global ambitions gained momentum with the $200 million acquisition of Bitstamp, a well-established European crypto exchange. This move positions Robinhood to accelerate its presence in the EU, UK, and Asian markets, leveraging Bitstamp’s licenses across over 50 jurisdictions. The merger also introduces an institutional crypto business to Robinhood, ensuring access to a broader customer base and compliance infrastructure.
Robinhood’s push into tokenization, however, has attracted regulatory scrutiny. The firm has begun offering tokens representing shares in high-profile private firms like OpenAI and SpaceX to European users. While these tokens grant economic exposure to underlying assets, they do not confer actual equity ownership or voting rights, prompting both legal inquiries in Lithuania and public cautions from OpenAI.
Despite these challenges, Tenev remains bullish, underscoring the advantage of Robinhood’s massive U.S. user base—now over 25 million funded accounts and $1 trillion in assets under custody. He believes this scale and infrastructure make Robinhood uniquely positioned to lead the next wave of real-world asset tokenization, outpacing both blockchain-native rivals and traditional institutions.
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