Demand for U.S. stocks is growing globally, pushing investors to look beyond domestic markets, Johann Kerbrat, Robinhood’s senior vice president and general manager in charge of crypto, said during a fireside chat at Consensus 2026 in Miami.
“We are seeing strong demand for U.S. stocks from foreign investors, particularly related to AI-related companies,” Kerbrat said, adding that access remains limited in many regions compared to the United States.
Kerbrat said investors should move away from country-specific strategies toward global allocation now that 24/7 international trading platforms are available to them. “It’s time for many investors to really think about not only how to invest in a specific country, but also how to build a global portfolio,” he said.
The Kraken exec highlighted tokenization and 24-hour trading as key factors. “We think it will be 24/7. We think it will be instant settlement,” he said, outlining features that could differentiate tokenized assets from traditional brokerage products.
The discussion, moderated by Eleanor Terrett, host of Crypto in America, also touched on regulatory constraints in the United States. Kerbrat said that “regulation in the United States has been far from friendly in the past,” while noting that recent engagement with policymakers has improved.
Robinhood has launched tokenized stock products in Europe using a derivative model that tracks underlying assets, with plans to expand access to additional asset classes, including private equity. Kerbrat said the goal is broader participation in markets that have historically been limited to accredited investors.
“I think it’s really important to give them the choice to be able to invest in this sector before it goes public,” he said, referring to private companies.
Kerbrat said adoption will depend on offering new features rather than replicating existing brokerage services, with lending, collateral and ongoing trading cited as areas for development.
Kraken, which lags behind platforms like OKX, Bybit and Coinbase (COIN) in terms of spot trading volumes, but remains a major player in the crypto derivatives market. is a US-based crypto exchange where users can buy, sell and trade digital assets like bitcoin and ether using fiat or crypto. It has expanded into services such as derivatives, staking and custody, positioning itself as a more full-service trading platform beyond a basic retail application.
