Robinhood Distributes OpenAI Tokens to EU Users Amid Crypto Expansion

OpenAI has issued a statement clarifying that the tokens distributed by Robinhood to European Union users do not represent equity in the company. The company emphasized that it was not involved in the launch of these tokenized shares and does not endorse the initiative. OpenAI representatives warned users to be cautious, stating that any transfer of OpenAI equity requires the company's approval, which was not granted in this case.

Robinhood, on the other hand, distributed $5 worth of OpenAI and SpaceX tokens to eligible European customers as part of its push into tokenized stock trading. The company launched a layer-2 blockchain network to facilitate the settlement of tokenized equity trades. Robinhood's senior vice president and general manager of Robinhood Crypto, Johann Kerbrat, highlighted that the integration of tokenized real-world assets promotes financial inclusion by opening up previously inaccessible asset classes to the general public.

The move by Robinhood to introduce tokenized stock trading comes amid a broader effort by crypto exchanges to integrate traditional assets into their platforms. This initiative blurs the line between traditional and digital finance, potentially democratizing access to private equity, private credit, and commercial real estate investing. These asset classes are typically reserved for accredited investors with significant investible assets, making them prohibitive for average retail investors.

Elon Musk, co-founder of both SpaceX and OpenAI, criticized OpenAI’s corporate structure in response to the token distribution. Musk, who left OpenAI's board in 2018, has been vocal about his concerns regarding the company's shift from a nonprofit, mission-driven model to a profit-first approach. He has filed lawsuits accusing OpenAI of breaching its charter and diverting charitable assets for private gain.

Robinhood's foray into tokenized equities is part of a broader strategy to expand its offerings and promote financial inclusion. The company first announced plans to introduce tokenized stock trading for European customers in May 2025, although no specific timeline has been given for a US rollout. The integration of tokenized real-world assets on the platform is seen as a way to open up new investment opportunities for retail investors, who would otherwise be excluded from these markets.

The company's event in Cannes, France, marked the rollout of its layer-2 blockchain network and tokenized real-world asset trading. CEO and co-founder Vlad Tenev emphasized the potential of crypto to become the backbone of the global financial system, highlighting its role beyond speculative assets. This initiative aligns with the broader trend of traditional financial institutions exploring the use of blockchain technology to tokenize assets and enhance financial services.