AsianFin — Robinhood CEO Vlad Tenev has responded to concerns raised by OpenAI regarding the trading of so-called “stock tokens” tied to OpenAI and SpaceX, stating that these offerings are blockchain-based derivative contracts rather than actual equity.

Tenev clarified that the tokens, available to European users via Robinhood’s new international platform, are issued on the Arbitrum blockchain and track the price of the underlying companies. However, holders of these tokens do not enjoy shareholder rights such as voting power or dividends.

The clarification came after OpenAI issued a public statement asserting that it had not authorized any tokenized equity product and warned investors to carefully verify the authenticity of such offerings through official documents.

The move reflects growing scrutiny over the tokenization of high-profile private companies, especially in light of increasing efforts by trading platforms to experiment with crypto-based synthetic assets targeting retail investors outside the United States.