Summary
- Robinhood CEO Vlad Tenev said the future of cryptocurrency lies in real-world asset tokenization (RWA).
- Tenev said that as traditional finance and crypto converge, tokens with no practical utility such as memecoins mean nothing.
- Robinhood is accelerating its RWA business expansion, including the recent mainnet launch of its Arbitrum-based Layer 2 network, Robinhood Chain.
Forecast Trend Report by Period
Robinhood Markets Inc. Chief Executive Officer Vlad Tenev said the future of crypto lies in real-world asset tokenization, or RWA, and voiced skepticism about memecoins.
Tenev told CNBC on July 2 that traditional finance and crypto are moving toward convergence and that the future of digital assets is in RWA.
“What matters is not creating tokens with no practical utility, like memecoins, but bringing already proven real-world assets on-chain,” he said. “Assets with no utility are not productive assets. Creating hundreds of memecoins means nothing.”
Robinhood has recently stepped up its RWA push, including by launching the mainnet for its Arbitrum-based Layer 2 network, Robinhood Chain.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.