Lighter, a perpetuals exchange, has made Robinhood's tokenized equities eligible as margin collateral on Robinhood's proprietary blockchain, expanding beyond its prior sole acceptance of the USDG stablecoin. The move is part of a planned Q3 collateral broadening initiative and represents an early live deployment of tokenized stocks as active trading margin in a DeFi venue.
For Armada's crypto repo desk, this development is a useful benchmark as tokenized T-Bills are already within the firm's collateral scope. The Lighter precedent illustrates how collateral eligibility norms are evolving on-chain, and the LTV, liquidation mechanics, and custody handling of tokenized equities on Robinhood Chain are worth monitoring as Armada refines its own collateral policy.