Deals & Cases
MLL advises Robinhood on launch of tokenised stock products
MLL Legal is pleased to have advised Robinhood on the Swiss law aspects of its tokenised securities programme underpinning the launch of Robinhood Stock Tokens, a new offering providing eligible investors with blockchain-based exposure to equities and exchange-traded products as part of Robinhood’s broader digital asset and tokenisation initiative.
The project combines traditional financial instruments with blockchain technology and forms part of Robinhood’s wider strategy to broaden access to financial markets through tokenisation and decentralised financial infrastructure. Robinhood recently announced the launch of Robinhood Chain and its Stock Tokens offering as part of a significant expansion of its global digital asset platform.
MLL advised on the Swiss law framework supporting the programme, including the structuring and issuance of Swiss-law ledger-based securities (Registerwertrechte), transferability mechanics, smart-contract-related legal considerations, regulatory structuring questions and Swiss legal opinions. The mandate also involved advising on the interaction between Swiss tokenisation law and the broader European regulatory framework applicable to the programme.
The programme is based on tokenised securities linked to traditional financial assets, including equities and ETFs, and combines blockchain-native infrastructure with investor protection and collateralisation mechanisms. The transaction represents another important example of Swiss ledger-based securities law being used as the legal foundation for large-scale tokenisation projects involving globally recognised financial services providers.
The MLL team was led by Dr. Reto Luthiger, Partner, together with Diana Lafita, Senior Associate, Dr. Alexander Vogel, Partner and Jérôme Pidoux, Counsel.
