Robinhood CEO Vlad Tenev said that the crypto-friendly environment that gains shape in the US will be a “tailor” for the company’s business due to the benefits offered by Stablecoins and Tokenization compared to traditional financial systems. Ta.
In an interview with Bloomberg TV, TV praised the “innovation-friendly regime.” This will boost Robinhood’s traditional and other important areas of crypto business and trading platform.
He added:
“It’s great to see something that America thinks needs to be number one in business and innovation. It’s good for not only Robin Hood, but all the industries we operate in. I think that’s what it is.”
24/7 liquidity
Cryptocurrency trading has become integral and represented in Robinhood’s business Transaction-based revenues are $358 millionequivalent to 53% of the total.
Regarding this offer, TENEV has confirmed that one way to promote on and off-ramping between ciphers is to use Stablecoins.
Tenev said:
“Stablecoins solves that problem because it is a 24/7 network running on software. It just shows one of the advantages of cryptographic technology over traditional financial systems. I think so.”
He added that this also leads to regular trading, liquidity pools and transactions of traditionally illiquid private assets other than remittances. However, TENEV also warned that Stablecoins must win yields to compete against other ways of holding and trading the dollar.
Robinhood wants to introduce this idea to the Global Dollar Network. The GlobalDollar Network is an open initiative that is pinned by Global Dollar (USDG), which globally promotes the adoption of Stablecoin. He explained that cash deposited in the bank can earn 4% in a high-interest environment.
Trillion Dollar Market
Speaking to investors on February 12, TENEV revealed that tokenization excites him the most about the crypto and the underlying technology.
Tokenization is the process of representing real-world assets on a blockchain, either in whole or in part. Increases live liquidity in the market and speeds up payment times without interruption.
When asked about Robinhood’s tokenization plan, Tenev revealed his belief that tokenized private companies’ stocks resonate with US investors.
He shared:
“I think it’s ridiculous to invest in a wide collection of memokine and other alternative assets for free for customers, free for retailers, and wide collections of memokine and other alternative assets, but Openai, SpaceX and early supporters 100 times, sometimes 1000 times Other private companies that have seen the above returns are unacceptable and are seen as too dangerous.”
If the blockchain industry gains regulatory clarity that enables a crypto-security relationship, the addressable sector will be a trillion dollar market consisting of all private and publicly listed fairness.
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