Robinhood CEO: “Tokenization is like a freight train. It can’t be stopped and will eventually eat the entire financial system” Vlad Tenev finds stablecoins to be a useful analogy to explain the benefits of tokenizing real world assets like equities and real estate: “For stablecoins in the US, we talk about it as the best way to get exposure to US assets, and it will further what’s called ‘US dollar dominance’ abroad . . . we’re making it the default way to get access to dollars in the digital realm. That’s why stablecoins have been such a priority in the US, and if you do own a dollar stablecoin, it’s sort of like the most basic tokenized assets.” “In the same way that stablecoins are a bucket of dollars that you mint and burn tokens against, you can do that with stocks, real estate and other real world assets, private stocks . . . And I think it will become the default way to get exposure to US stocks outside the US. I think that’s what makes it so exciting.” This is why Robinhood announced in June 2025 at ETH cc that it would be moving into tokenizing stocks on Ethereum and building its own Ethereum L2: “Both [private and public equity] we’ve demonstrated. In the case of stocks, it’s live right now in the EU. So the only complexity remaining is making sure you have the appropriate licensure and the regulatory clarity in many jurisdictions, but I think that will come. It started in Europe, but it will expand to the rest of the world. Unfortunately, but realistically . . . the US will probably be among the last economies to fully tokenize. But I think it’s inevitable in the US as well.” Source: @token2049 (Oct 2025)