Arm Holdings plc (Robinhood Stock Token)ARM
ARM, issued by Robinhood Assets (Jersey) Limited, is a tokenized stock that gives economic exposure to the shares of Arm Holdings plc through a debt security recorded on Robinhood Chain. The token is backed one-to-one by the underlying shares, but what the holder owns is a limited-recourse debt claim against Robinhood Assets (Jersey) Limited: holders receive economic exposure and hold no legal or beneficial rights in, or against the issuer of, the underlying securities, so no shareholder or voting rights attach. Recourse runs only to the secured collateral, not to the issuer's general estate, and that collateral may comprise cash or other eligible financial instruments rather than the shares themselves, which may in turn be lent out. Dividends are not paid out in cash. When the underlying company pays a dividend, the amount is automatically reinvested to purchase more shares of that stock and the token's multiplier increases, so the value each token represents rises while the holder's token balance stays the same. Stock splits are handled the same way, through the onchain multiplier rather than a change in token quantity. The tokens are issued on Robinhood Chain, Robinhood's own Layer 2 network, and are not registered under U.S. securities law or offered to U.S. persons. They are a separate product from the first-generation Classic Stock Tokens issued by Robinhood Europe, UAB, which Robinhood states remain available in the Robinhood Europe app.