Tenev Pushes for US to Lead in Stock Tokenization
Robinhood CEO Vlad Tenev is urging America to take the lead in stock tokenization, calling it an unstoppable force that will overhaul the financial system. Tenev described tokenization as being in its 'early innings' of a global supercycle, with the U.S. currently lagging behind in implementing tokenized stocks.
Last year, Robinhood launched tokenized stocks for its European customers, offering blockchain-powered equities of companies like OpenAI and SpaceX. Tenev emphasized that these stock tokens are fully backed by the underlying securities and give holders exposure to dividends.
Tenev expressed disappointment that tokenized stocks have yet to become available in the U.S., despite growing mainstream interest. He urged policymakers to 'move quickly' to modernize the rules and enable tokenized stock trading, warning that it would be a 'strange outcome' if Americans were left behind.
The SEC is preparing to launch a framework for trading blockchain versions of popular Wall Street-listed stocks, with a proposal aiming to give qualified firms a regulatory sandbox under lighter-touch compliance conditions.