Robinhood Markets has begun offering tokenized shares of privately held OpenAI and SpaceX to retail investors in Europe, extending its push beyond traditional brokerage services and into blockchain-based capital-markets products. Chief Executive Officer Vlad Tenev said tokenization could unlock liquidity by connecting “hundreds of millions” of crypto participants and described the technology as the most significant capital-markets innovation of the past decade. He added that the company’s long-term objective is to incorporate more blockchain features across its platform. The brokerage is in talks with securities regulators about the new products, according to people familiar with the matter. Robinhood has not disclosed when or whether the offering might be introduced in the United States, where tokenized equities still face legal uncertainty. Interest in on-chain assets is widening across the industry. Bitwise Asset Management this week highlighted Ether, Solana, XRP and Chainlink as the “cleanest” ways to invest in the tokenization trend, while Securitize said the value of assets it administers on-chain has reached a record about $4 billion.