Robinhood's earlier stock tokens were tradable by European customers but could not be transferred to Ethereum or other blockchains, pooled, or composed with other smart contracts.

“But it wasn't fully DeFi-enabled. So if you're a European customer using Robinhood, you could trade them, and they felt very much like real stocks, but you couldn't actually, you know, send them out on Ethereum or on the blockchain and put them in pools or compose them with, with other smart contracts.”