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AI & Enterprise

Robinhood CEO says crypto future depends on tokenising real-world assets

Robinhood CEO Vlad Tenev said growth in the cryptocurrency industry depends on putting real-world assets on-chain. In a CNBC interview, he said the future of crypto lies in real-world assets and that assets not tied to underlying utility are not productive. Robinhood launched its Stock Token service, letting eligible users trade tokenised stocks 24 hours a day, and plans to use them as collateral across DeFi.

Crypto

IMF says tokenisation could strengthen or fragment financial system

Tokenisation will either strengthen or fragment the financial system depending on policy decisions on money, market infrastructure and legal frameworks, Tobias Adrian said. Moving financial assets and liabilities to a shared ledger compresses execution, clearing and settlement into software-run simultaneous processing, he said. The shift could concentrate risk in platforms, code and market infrastructure providers rather than traditional intermediaries. The IMF report cited tokenised deposits, stablecoins and tokenised central bank reserves.

Crypto

Tradeweb processes real-time trading of tokenised U.S. Treasuries on Canton network

Tradeweb processed a real-time on-chain transaction in tokenised U.S. Treasuries on the Canton Network, the article said. Franklin Templeton transferred tokenised U.S. Treasuries to Virtu Financial, with payment settled using tokenised cash based on USDCx, a USDC-linked stablecoin issued on Canton, according to a recent Cointelegraph report. Tradeweb handled execution and price discovery, while Canton synchronised asset and cash settlement. The deal size was not disclosed.