Robinhood CEO: The Future of Crypto Lies in Real-World Assets, Not Meme Coins

CoinFeed July 3 news, according to The Block, Robinhood CEO Vlad Tenev said in an interview with CNBC that the key to the growth of the crypto industry lies in bringing real-world assets on-chain, not meme coins. Tenev stated, 'If an asset is not tied to underlying utility, it is not a productive asset,' and believes that traditional finance and crypto are converging, 'Everything that runs on traditional rails will eventually go on-chain and be tokenized, it's like a freight train that can't be stopped.' Robinhood launched Stock Tokens service on Wednesday, allowing eligible users to trade tokenized stocks 24/7, and plans to offer exposure to private companies like OpenAI. Tenev said Bitcoin will not become unimportant, but the next phase of industry growth will come from the tokenization of real-world assets.