The CEO of Robinhood believes that blockchain technology will be the future of finance

The Chief Executive Officer of Robinhood, Vlad Tenev, was quoted in a recent story by Fortune, expressing his conviction that tokenization is the next evolutionary step for the financial services industry.

Tenev brought attention to the fact that assets such as stocks might eventually be traded on blockchains, which would eliminate the need for conventional middlemen in processes such as trade settlement or other similar procedures.

Forbes reports that large financial organizations like BlackRock and Goldman Sachs are already investigating the possibilities of tokenization by releasing assets like dollars and equities on blockchain platforms. These institutions are reportedly researching the possibility of tokenization.

Tenev also mentioned the strategic actions that Robinhood has made in the cryptocurrency field, such as the purchase of Bitstamp in June at a price of $200 million. He stressed the enormous cost savings of operating a cryptocurrency firm in comparison to typical banking operations, noting a clear technical edge as the reason for this.

Tenev made a passing reference to Robinhood’s future intentions, implying that the company is considering the possibility of introducing cryptocurrency futures trading in both the United States and European markets. However, there is no official timeframe in place for this growth.

Tenev also envisioned Robinhood becoming a full wealth management platform, comparable to conventional banks, by expanding its offerings to include retirement accounts, credit cards, and high-yield cash accounts. This was one of the ways that Tenev envisioned Robinhood progressing.

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