- Robinhood launched tokenised U.S. stocks using Ethereum’s Arbitrum, a first for a U.S. public company.
- BlackRock, Deutsche Bank, Coinbase, and Kraken all presented Ethereum-based finance plans.
What happened: Ethereum takes centre stage at EthCC in Cannes
The Ethereum Community Conference, or EthCC, took place in Cannes this week. It brought together blockchain developers, crypto company founders, and financial giants. The event was held in the same halls that usually host film stars during the Cannes Film Festival. This year, they welcomed people building the future of finance. The event had a different tone from past years. There was less talk about token prices. Most discussions centered on how Ethereum is becoming the foundation for financial systems.
One major moment came from Robinhood. The company became the first public U.S. firm to launch tokenised stocks and ETFs on-chain. It utilizes Arbitrum, a layer built on top of Ethereum, to provide this service. This launch lets European users trade tokenised U.S. stocks. The announcement helped Robinhood’s share price climb above $100 for the first time. At the same time, Deutsche Bank said it is developing a platform on zkSync, another Ethereum-based layer. It will help asset managers issue and manage tokenised funds and stablecoins. Other companies, like Coinbase and Kraken, also shared plans to enter tokenised stock trading. BlackRock’s money market fund, BUIDL, continues to use Ethereum rails as well.
Also read: Ripple commits $5M to APAC universities for blockchain innovation
Also read: US asset manager launches $100M blockchain property fund
Why it’s important
Ethereum’s role is changing. It is now part of how big companies handle money and assets. Paul Brody from EY said Ethereum is being plugged into the systems that people and companies already use. He said it allows transactions that are not only faster and cheaper, but also offer more features. These changes are not just ideas anymore. They are happening. Companies are choosing Ethereum because it works. They want to be sure their transactions are fair and secure.
Vitalik Buterin, the co-founder of Ethereum, spoke at the conference. He said that many institutions care more about stability than speed. They want systems that work well and do not go offline. Tomasz Stańczak from the Ethereum Foundation said Ethereum has been running for ten years without a pause. He said that this track record is important to institutions. They need to know their orders will be processed without delay or special treatment. Ethereum’s values — like security, fairness, and openness — are now seen as strengths in the financial world.
