Robinhood CEO Vlad Tenev expressed hopes to collaborate with the government to expand asset ownership, build the next generation of capital markets, and ensure the U.S. remains a leader; his policy focus is on the compliance entry of tokenized stocks in the U.S.

Tenev recently stated that the U.S. financial system is entering a "tokenization supercycle," where tokenization is not just about mapping stocks to the blockchain, but about rebuilding the underlying infrastructure of asset ownership to allow assets to flow as quickly as internet information.

Robinhood has provided tokenized exposure to over 190 U.S. stocks in more than 120 non-U.S. markets, with the related tokens backed 1:1 by the underlying stocks and passing on dividends, but holders do not directly own the underlying shares; this is a core issue regarding the legal attributes of the products, investor rights, and market structure under review by U.S. regulators. thedefiant+1

Robinhood Chain, launched in July, is a permissionless Layer 2 network built on Arbitrum technology and compatible with the Ethereum Virtual Machine, focusing on tokenizing real-world assets, stocks, and AI financial services; the company claims this network became the fastest EVM chain to reach 100 million transactions.

Tenev highlighted instant settlement as a key selling point for tokenized stocks, referencing the 2021 GameStop incident: during that time, the margin requirements imposed by clearinghouses under the traditional T+2 settlement cycle forced Robinhood to restrict purchases of certain stocks. He believes on-chain settlement can reduce risk exposure between trading and clearing, but whether on-chain instant settlement can replace existing exchanges, clearinghouses, brokerages, and securities registration systems still awaits confirmation from U.S. regulatory frameworks.

In terms of market mechanisms, retail and global investors are potential buyers of fragmented, nearly round-the-clock trading and instant settlement, with platforms like Robinhood serving as entry points for the issuance, distribution, and trading of tokenized stocks, while the underlying stocks, custody, clearing, and compliance infrastructure form the supply side. If the U.S. establishes a clear framework, order flow, custodial assets, and securities tokenization services will concentrate among licensed brokerages, exchanges, transfer agents, and on-chain settlement networks; if regulations require token holders to enjoy full shareholder rights, investor protections, and market regulatory obligations, the product design and compliance costs for platforms will rise accordingly.

Source: Public Information