Robinhood plans to let holders of its Stock Tokens redeem them for real shares and vote those shares. Johann Kerbrat, senior vice president and general manager of international and crypto at Robinhood, announced the plan on X. Currently, tokens are redeemed in cash under a prospectus approved by the Financial Market Authority Liechtenstein, and holders have no shareholder rights. The protocol explicitly excludes physical delivery of underlying shares, and collateral shares may be lent to a borrower who retains voting rights. The shareholder engagement platform Say, which Robinhood acquired in 2021, is expected to serve as the mechanism for voting.
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