AdVlad Tenev, chief executive officer of Robinhood Markets Inc., during the Token2049 conference in Singapore, on Thursday, Oct. 2, 2025. Bloomberg | Bloomberg | Getty ImagesThe tokenization of real-world assets, from stocks to real estate, will spread to financial markets around the world, according to Robinhood Markets Chief Executive Officer Vlad Tenev. The crypto industry has long predicted that a mass tokenization of assets on the blockchain was coming, promising greater market efficiency. And, along with Robinhood’s launch of tokenized stocks, there’s been more signs this year that real implementation is coming, with institutional giants Morgan Stanley and BlackRock signaling interest. He cited stablecoins — digital currencies designed not to fluctuate wildly, and pegged to a commodity or a fiat currency like the U.S. dollar — as an early example of a tokenized real-world asset.