Robinhood’s stock tokens are backed one-for-one by real shares held in secure custody, with corresponding shares purchased when tokens are minted. Holders receive economic benefits equivalent to dividends and corporate-action returns, which are reinvested into their positions. Physical redemption and voting rights are not yet available, although Robinhood is developing both functions for eligible holders. The composable tokens can support new products built by developers, but they are unavailable to U.S. users and restricted in Canada, the United Kingdom, Switzerland and other jurisdictions.