Robinhood CEO Vlad Tenev delivered a forward-looking speech at Token2049. He revealed that the company's business growth in the third quarter was strong, especially that the annualized revenue from the prediction market business has exceeded $200 million, making it one of the fastest-growing lines of business.
More importantly, Tenev is very optimistic about asset tokenization. He used a vivid metaphor, saying that RWA is an unstoppable 'freight train' that will 'devour the entire financial system' in the future. He believes that all assets will be traded on-chain in the future.
Although Tenev is confident about RWA, he also acknowledges the current challenges. He said many people are talking about RWA, but very few are actually taking action. Compared to stablecoins that already have a large user base, those holding RWA assets are still in the minority.
However, Robinhood has already taken action. Tenev revealed that since launching the stock token business in Europe this summer, they have currently introduced tokenized equity products for about 200 companies and are continuously expanding. He specifically mentioned that real estate is the next frontier for tokenization.
In terms of regional expansion, Robinhood is laying out a global market strategy. They plan to further expand in the EU region and extend to other areas. Tenev also criticized the United States for its lag in tokenization regulation, believing that Europe is ahead.
