Ethereum · Bitcoin · The Block
Robinhood CEO confirms future of crypto is in real-world assets, not memecoins
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A day after Robinhood unveiled an expansion of its tokenized equities offering, CEO Vlad Tenev said the growth of the digital assets industry hinges on bringing real-world assets (RWAs) onchain rather than creating tokens without underlying utility.
Key facts
- Bitcoin was changing hands at $61,601.41 as of 11:43 a.m
- On Wednesday, Robinhood launched Stock Tokens, a service that allows eligible users to trade tokenized equities 24/7, and eventually deploy those assets into lending pools where they can be used
- Broadly speaking, digital assets, particularly major tokens like bitcoin and Ethereum, have declined so far this year, with the overall crypto market losing roughly $1 trillion in market
- A day after Robinhood unveiled an expansion of its tokenized equities offering, CEO Vlad Tenev said the growth of the digital assets industry hinges on bringing real-world assets (RWAs) onchain
Summary
"The future of crypto is in real-world assets," Tenev told CNBC on Thursday morning. On Wednesday, Robinhood launched Stock Tokens, a service that allows eligible users to trade tokenized equities 24/7, and eventually deploy those assets into lending pools where they can be used as trading collateral across the broader DeFi ecosystem. Asked whether the crypto market has entered into an "enduring crypto winter," Tenev spoke to his belief in the merging of traditional finance and crypto. Broadly speaking, digital assets, particularly major tokens like bitcoin and Ethereum, have declined so far this year, with the overall crypto market losing roughly $1 trillion in market capitalization.