Robinhood Mints 2,309 OpenAI Stock Tokens on Arbitrum with Ultra-Low Transaction Costs

On July 2, Robinhood’s blockchain activity revealed significant developments in the tokenization of stock assets, with the OpenAI stock token (o) being minted on the Arbitrum network. The transaction, executed by the deployer address 0xcB…f556, involved the creation of 2,309 tokens, underscoring Robinhood’s strategic push into on-chain stock token offerings. Data from analyst @tomwanhh further highlights that the same deployer has initiated or tested a total of 213 tokens on Arbitrum, incurring minimal gas fees of just 0.00233 ETH, equivalent to roughly $5, and maintaining an average transaction cost near $0.03. This activity aligns with Robinhood EU’s recent announcement of pioneering the issuance of stock tokens for private companies, including high-profile names like OpenAI and SpaceX, marking a notable advancement in the integration of traditional equity markets with decentralized finance platforms.