Summary
Robinhood CEO Vlad Tenev is urging U.S. regulators to create a framework for tokenized stocks, arguing America risks ceding the next generation of financial-market infrastructure to overseas markets. Tenev says global markets are in the early stages of a "tokenization supercycle." Robinhood already offers tokenized U.S. stocks to users in more than 120 countries, with economic exposure to more than 190 U.S. stocks including dividends. On-chain tokenized equity trading volume hit $9 billion in 2026, up over 800% year-to-date.
Key Points
- Tenev urging U.S. regulators to clear a path for tokenized stocks
- Calls it a global "tokenization supercycle"; tokenization is "the best path to modernizing the American financial system"
- Robinhood offers tokenized U.S. stocks to users in 120+ countries, economic exposure to 190+ U.S. stocks including dividends
- Stock Tokens backed 1:1 by underlying shares but holders do not directly own the shares
- Robinhood Chain: permissionless, Ethereum-compatible Layer-2 built with Arbitrum technology; launched July 1, 2026
- Robinhood Chain reached 100 million transactions — fastest EVM chain by that measure; 100-millisecond block times
- On-chain tokenized equity trading volume hit $9 billion in 2026 (Kobeissi Letter): +207% QoQ, +800% YTD
- Tenev cites 2021 GameStop episode as case for real-time settlement; U.S. settlement already moved T+2 to T+1
- Tokenization could enable 24/7 trading, real-time settlement, portable assets
- Robinhood offers 24/5 stock trading in the U.S. today
- Nasdaq planning ~23-hour trading day (overnight session 9pm-4am ET), expected Dec 6 pending approval
- Crypto trading revenue fell 30% QoQ in Q1 2026, adding pressure after an earnings miss
- Tenev: "It would be a strange outcome if the rest of the world could build the future of ownership around American assets while Americans themselves were left behind"
- U.S. securities laws set requirements around trading, custody, clearing and shareholder rights that blockchain doesn't remove
Sources
- https://www.coindesk.com/markets/2026/08/18/robinhood-ceo-urges-u-s-to-clear-path-for-tokenized-stocks-as-overseas-markets-advance
- https://stocktwits.com/news-articles/markets/equity/robinhood-ceo-vlad-tenev-says-tokenization-supercycle-is-just-beginning-as-on-chain-equity-trading-reportedly-hits-record-high-in-2026/cZYd5w9RJk7
- https://www.valuethemarkets.com/cryptocurrency/news/robinhood-pushes-tokenized-stocks-as-vlad-tenev-backs-a-blockchain-supercycle