Robinhood expands its global push, minutes from crypto chief's old cramped apartment in Cannes

CANNES — A remarkable journey has brought Johann Kerbrat, Robinhood's crypto chief, back to the scenic French Riviera, where he once flipped burgers and taught himself coding in a tiny apartment. Now, as the senior vice president and general manager of crypto at Robinhood, he reflects on his humble beginnings. At just 21 years old, Kerbrat had no funding or formal business education when he decided to leave his job just before starting university in Nice. He launched his first fintech startup, a no-code payments platform aimed at empowering small merchants to create e-commerce sites without the need for expensive developers. "It was in my little studio — probably smaller than your bathroom," he recalled. In the early 2010s, as online commerce began to soar, his innovative tool provided small businesses with a fighting chance against larger competitors. During this time, Kerbrat learned just how fragile the global financial system could be. A classmate from Greece shared stories of his family's bank accounts being frozen during the eurozone crisis, while merchants using his platform faced high fees and fraud. The arrival of the Bitcoin white paper opened Kerbrat's eyes to new possibilities. "I was like, 'Okay, that's a solution for everything,'" he expressed. Now, he's based in the luxurious Château de la Croix des Gardes, a far cry from his previous living situation, and is leading Robinhood's most ambitious crypto initiative to date. The company recently unveiled a broadened offering of tokenized U.S. stocks and ETFs across Europe, along with crypto staking in the U.S. and perpetual futures for eligible traders in the EU. Kerbrat emphasized that the objective is not to overwhelm users with features but to make the technology seamlessly integrated into their experience. In an interview at the iconic Carlton Hotel, a five-star establishment he once thought was out of reach, he remarked on the surreal nature of his return. Shares of Robinhood surged following the announcement, reflecting the market's optimism about the company's direction. The centerpiece of this launch includes tokenized U.S. stocks and ETFs now accessible to customers in 30 EU and European Economic Area countries. Built initially on Arbitrum, these tokens provide 24/5 access, support for dividends, and zero commissions from Robinhood. Future plans involve transitioning to a custom Layer 2 blockchain designed for tokenized assets and enhanced user experiences. In the U.S., Robinhood is also introducing staking for Ethereum and Solana, enabling users to earn rewards for supporting network operations. Moreover, crypto perpetual futures will allow eligible users in Europe to leverage their investments by up to three times. Kerbrat aims to simplify crypto trading, making it as straightforward as buying stocks. Reflecting on his journey, Kerbrat considers his return to Cannes not just a personal milestone but a testament to his growth. His early interest in technology, sparked by an old Apple computer brought home by his father, laid the foundation for his career. As he stood with his family watching the launch, he acknowledged the memories of his modest beginnings and the realization of his dreams. "I never thought I'd be back here like this," he concluded.