Tenev, who was speaking at a conference in Singapore, told the audience that tokenisation was “like a freight train” that would “eat the entire financial system”.
,When pressed about the timeframe for this development, Tenev said that he expected most countries to have a tokenisation framework in place within five years.
,However, it may take a decade for 100% of financial instruments to be tokenised.
,Robinhood has made its own tokenisation plays in recent months. In June the company launched 200 tokenised US stocks on an Ethereum network for its European users.
,Europe has sought to lay out a path for tokenisation through its Markets in Crypto-Assets act.
,However, Tenev was less bullish about the development of tokenisation in the US market.
,“Unfortunately, but realistically, the US will probably be somewhat behind,” Tenev said. “The US will probably be the last economy to fully tokenise. But it’s inevitable.”
