Robinhood CEO Vlad Tenev stated at the Token2049 conference in Singapore that in the next five years, most major markets will develop frameworks for asset tokenization. According to him, the process is inevitable and will eventually encompass the entire financial system.
‘Tokenization is like a high-speed train’
Tenev emphasized that tokenization has already become an irreversible process:
‘It’s like a freight train. You can’t stop it, and in the end, it will absorb the entire financial system.’
According to the head of Robinhood, global adoption may take a decade or more, but the first regulatory frameworks will appear much sooner. At the same time, in his opinion, the US will move slower than other countries due to the resilience of its financial infrastructure.
‘If you can get there in three hours, the difference with two hours may not be worth the investment. It’s the same in the US: the financial system works well enough, and people have less incentive to change it. Maybe you can’t trade tokenized stocks, but Robinhood has already made stocks available to the mass investor,’ Tenev noted.
Stablecoins as the first step
Tenev called stablecoins ‘the basic form of tokenized assets.’ He stressed that dollar stablecoins strengthen the dollar’s position outside the US. In the future, the same scenario, he said, will apply to tokenized stocks, real estate, and other assets.
‘Cryptocurrencies and traditional finance have long existed separately, but they will fully merge. Blockchain technology offers so many advantages that in the future there will be no distinction between traditional and digital instruments,’ he said.
Prediction markets in Robinhood’s focus
Another company bet is on prediction markets. Since the platform’s launch at the end of 2024, more than 4 billion contracts have passed through it.
Initially, they were associated with US elections, but according to Tenev, the interest turned out to be much broader. Today, users bet on sports events, culture, and even artificial intelligence. American football and college leagues have become especially popular.
Critics often point to the similarity of prediction markets to gambling. However, Tenev considers such parallels natural:
‘There are elements of betting in this, but there are also similarities with trading exchange products and with news services. Many come not for speculation, but for information.’
What’s next?
Robinhood plans to expand the prediction markets platform beyond the US. The company is already negotiating with foreign regulators, including the UK’s Financial Conduct Authority (FCA).
Tenev is convinced that tokenization and prediction markets will become key elements of the future financial system. The US may move more cautiously, but the global race has already begun.
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