Robinhood CEO Vlad Tenev said tokenization will eventually take over the entire financial system during an interview on CNBC’s “Squawk Box” program.
The shift toward tokenized assets represents a fundamental rebuilding of financial infrastructure. If successful, this transition could eliminate traditional intermediaries and create new market efficiencies that redefine how stocks and other assets are traded globally.
Tenev said the current movement is an unstoppable super-cycle. He said the process of moving traditional financial assets onto a blockchain—known as tokenization—will act as a freight train that will eat the existing financial system.
According to Tenev, the convergence of cryptocurrency and traditional banking is now inevitable. He said that the U.S. must continue to lead and move quickly in the area of stock tokenization to maintain its global standing.
This push for digital transformation comes as the industry sees significant growth. On-chain equity trading reportedly hit a record high in 2026 [1].
Tenev said that the transition will not only change how assets are held but will rebuild the very plumbing of the financial world. He said the U.S. risks a strange outcome if it fails to maintain its leadership in this emerging sector.
“Tokenization will take over the entire financial system”
The move toward tokenization suggests a shift from centralized ledger systems to decentralized blockchain technology for equity and asset management. By converting traditional securities into digital tokens, the financial industry aims to achieve 24/7 trading, near-instant settlement, and fractional ownership of high-value assets, potentially reducing the reliance on clearinghouses and traditional brokerage back-end systems.
