Vlad Tenev predicts tokenized assets will reshape markets, from stocks to real estate, as Europe leads the regulatory charge.
Robinhood CEO Vlad Tenev delivered a bullish forecast on asset tokenization at Token2049 in Singapore, describing it as a “freight train” barreling toward traditional finance. Speaking to industry leaders,
Tenev said crypto and traditional financial systems, long operating in separate spheres, will eventually merge as assets move fully on-chain.
“Everything will be on-chain in some form, and the distinction will disappear,” Tenev told the audience.
Tokenized stocks. Europe first
Robinhood is already staking its claim. The company has launched tokenized stocks in Europe and offers private shares in high-profile startups, including OpenAI. Tenev compared tokenized stocks to stablecoins, which have become the default digital dollar access globally.
He envisions tokenized equities becoming the standard method for investors outside the U.S. to access American markets. Europe’s relatively advanced regulatory frameworks motivated Robinhood to launch stock tokens there first. The U.S., Tenev noted, is slower to adopt due to an already functional financial system.
“Medium-speed trains get you there well enough,” he joked, drawing an analogy to America’s transport infrastructure.
The next frontier
Beyond stocks, Robinhood plans to tokenize real estate, which Tenev said is mechanically similar to tokenizing private companies. Assets would be structured within a company, then tokens issued to represent fractional ownership.
OpenAI called Robinhood’s tokenization of its shares “unauthorized,” and legal experts flagged potential regulatory issues. Tenev dismissed these concerns as a function of broader regulatory lag, emphasizing that legal hurdles, not technical limitations, are the main barriers to adoption. Europe is already advancing on real estate tokenization, while the U.S. lags, he said.
Over time, Tenev predicts tokenized assets, stocks, real estate, and beyond could trade as easily as stablecoins, available 24/7 to global investors.
Robinhood has also expanded its prediction market platform, which launched in late 2024.
The company reports over four billion event contracts traded, covering elections, sports, culture, and AI. The platform is now being offered internationally, with Robinhood engaging regulators in the U.K. and other markets.
Robinhood Prediction Markets just crossed 4 billion event contracts traded all-time, with over 2 billion in Q3 alone. And we’re just getting started. pic.twitter.com/13LxjqWaNt
— Vlad Tenev (@vladtenev) September 29, 2025
A global shift
While regulatory environments differ, the push toward 24/7, globally accessible, on-chain assets is accelerating, with Europe often leading the way. For Robinhood, the strategy signals a long-term bet: the future of finance may be tokenized, borderless, and fully integrated with blockchain technology. ~
“Eventually, it’s going to eat the entire financial system,” Tenev concluded.
Oleksii Shumak
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