avishek das | SOPA Images | Lightrocket | Getty Images
Lithuania’s central bank said Monday that it contacted Robinhood for explanations on tokenized stocks after Openai raised concerns about its products last week.
“We are contacting Robinhood to await an explanation of the structure of Openai and SpaceX stock tokens and related consumer communications,” Bank of Lithuania spokesman Giedrius Synukas told CNBC via email.
“Only after receiving and assessing this information can we assess the legality and compliance of these specific measures. Information for investors must be provided in a clear, fair, non-example language.”
The Bank of Lithuania is Robinhood’s main regulator in the European Union after the company receives its securities company license and crypto asset service provider license from the central bank. When contacted by CNBC, Robinhood could not immediately comment.
It comes right after Openai has distanced itself from Robinhood’s “stock token” products. According to Robinhood, the product, launched on June 30th, will provide EU users with the ability to invest in stocks in the form of blockchain-based tokens.
Following the launch of Robinhood’s new token product, Openai took advantage of social media platform X to warn users that “these ‘Openai tokens’ are not Openai equity.”
“We did not partner with Robinhood, we were not involved in this, and we didn’t support it,” the company said at the time.
In response to Openai’s warning last week, Robinhood said the stock tokens are “enabled by retail investors indirect exposure to the private market, initiating access and made possible by Robinhood’s ownership in specially-purpose vehicles.”
