Robinhood Assets (Jersey) Limited

Issued by Robinhood Assets (Jersey) Limited ('RHJ'), company number 162428, a Jersey private limited company incorporated 23 October 2025, sole shareholder Robinhood International, Inc. (owned by Robinhood Markets, Inc.). Structured as tokenized debt securities under a Base Prospectus (dated 25 June 2026, approved by Liechtenstein's FMA) plus series-specific Final Terms. Each series has limited recourse to that series' own collateral, not a general claim on the wider group.

Split confidence — primary (current no-voting state) / reported (Sept 14 announcement, via press coverage of the CEO's own public statements)

No shareholder voting rights, no legal or beneficial rights against the underlying company. As of Sept 14, 2026, Robinhood's crypto lead (Johann Kerbrat) and CEO Vlad Tenev publicly stated on X that voting rights for eligible Stock Token holders are 'on the roadmap' and 'coming', following public criticism (a dispute with AMC's CEO over what token holders actually own) — but this had not been implemented or reflected in the offering documents as of the announcement; it requires rewriting the Base Prospectus/Final Terms to deliver.

NOT disputed, contrary to some third-party characterizations — Robinhood's own docs and FAQ are explicit: dividends are not paid as cash. When the underlying pays a dividend, it's reinvested into more shares and reflected as an increase to the token's on-chain 'multiplier' (readable via the contract's uiMultiplier() function per Chainlink's technical documentation of the price feed). Same design pattern as xStocks and bStocks.

On-chain 'multiplier', same family of mechanism as xStocks/bStocks: dividend reinvestment (small increase), stock splits (large increase), reverse splits (decrease), spin-offs (case-by-case adjustment). Updated either immediately or via a staged/scheduled update with an effective timestamp, both readable on-chain.

Underlying shares held by Alpaca Securities LLC (broker and custodian). Full named service-provider list per Robinhood's own disclosures (as reproduced by a third-party legal-doc analysis site): Security Agent Services AG (security agent and verification agent), Bitstamp Global Ltd (authorised participant), JPMorgan Chase Bank, N.A., London Branch (paying-account provider). Robinhood's own public FAQ still only describes a 'US-based custody partner' without naming it directly, so the specific name stays reported rather than primary pending Robinhood naming it on its own domain.

Currently CASH-ONLY. Robinhood's own Base Prospectus (25 June 2026, FMA-approved) states directly, under 'Can I physically receive the Underlying at redemption?': 'No. Investors are not entitled to receive physical delivery of the relevant Underlying.' Holders may sell on the secondary market, or redeem directly with the Issuer (where no authorized participant is available) subject to KYC/AML checks, settled in cash. Redemption fee: 0% for the first 90 days after a given token's issuance, then 0.05% per the issuer's published fee schedule. In-kind (physical share) redemption is only 'coming' per the Sept 14, 2026 announcement — not yet live as of this research.

Not available to US, Canada, UK, or Switzerland residents (and other restricted jurisdictions per a fuller list on Robinhood's own site). KYC/AML checks apply for direct issuer redemption.

Standard ERC-20 tokens on Robinhood Chain, an Arbitrum-stack Layer 2 built by Robinhood specifically for tokenized real-world assets.