The Crypto Rails

• CRCLCircle Internet Group, Inc. (CRCL)Robinhood Assets (Jersey) Limited
• COINCoinbase Global, Inc. (COIN)Robinhood Assets (Jersey) Limited
• MSTRStrategy Inc. (MSTR)Robinhood Assets (Jersey) Limited

• CRCL — A Robinhood Stock Token is a tokenised debt security. It provides economic exposure but no ownership, voting, or other shareholder rights in the underlying security.
• COIN — A Robinhood Stock Token is a tokenised debt security. It provides economic exposure but no ownership, voting, or other shareholder rights in the underlying security.
• MSTR — A Robinhood Stock Token is a tokenised debt security. It provides economic exposure but no ownership, voting, or other shareholder rights in the underlying security.

these are Stock Tokens issued by Robinhood Assets (Jersey) Limited: tokenised debt securities that provide economic exposure to the named security. they are not shares and provide no ownership, voting, or other shareholder rights. corporate actions are reflected through a shares-per-token multiplier. they may not be offered to US persons and are restricted in other jurisdictions. while the underlying market is closed, onchain execution can diverge from the reference price and spreads can widen.