Robinhood CEO Vlad Tenev memorably described tokenized stocks as an unstoppable “freight train.” The arrival of that train will depend on how fast regulators can supply a legal framework, but Tenev’s basic premise is sound. The more interesting question is which firms will lead this coming wave of disruption, and which will be left out.
The rise of tokenized stocks means the equity markets of the future will be built around instant execution. At this point, it’s not a question of if but when.
