On August 15, Swarm, a Palo Alto-based blockchain platform for private equity, which markets itself to private wealth managers and family offices as an open means of access to alternative investments, announced the prefunding of the so-called Robinhood Equity token (Rhet), the first security token of its kind.
Robinhood is one of the new generation of low-commission conventional stock trading apps in the US, which is itself challenging the established brokerage model. The new Rhet initiative allows accredited investors on the Swarm platform to reserve their stake in a fund created for the purpose of holding equity in Robinhood.
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