Overview

• At Token2049 in Singapore, Vlad Tenev said tokenization is a “freight train” that will ultimately “eat the entire financial system,” predicting crypto and traditional finance will fully merge.
• Robinhood has launched more than 200 tokenized U.S. stocks for European Union customers, which Tenev says could become the default way non‑U.S. investors gain exposure to American equities.
• Tenev said real estate will be Robinhood’s next tokenization focus, describing it as mechanically similar to private‑share tokens as legal and ownership questions remain after OpenAI called such tokens unauthorized.
• He predicted most major markets will have tokenization rules within about five years, cautioning that full global participation could take longer and that the U.S. will trail faster‑moving Europe.
• Robinhood reported over four billion event contracts traded on its prediction markets since late 2024, while broader RWA activity is accelerating with Circle expanding its USYC tokenized Treasury fund to Solana.