Robinhood CEO: Crypto's future is RWA, not meme coins

The future of cryptocurrency lies in the tokenization of real-world assets (RWA), while things like meme coins are not worthy of attention, according to Vladimir Tenev, CEO of the U.S. stock and crypto trading app Robinhood (Nasdaq: HOOD). In an interview with CNBC, he stated that traditional finance and crypto are moving toward a phase of convergence, and the future of digital assets is in RWA. Tenev emphasized that this involves bringing already-proven real-world assets on-chain, rather than creating tokens with no real utility, like meme coins. He stressed that if an asset has no utility, it is not productive, and creating hundreds of meme coins is meaningless. Meanwhile, Robinhood recently launched its own Arbitrum-based Layer 2, the Robinhood Chain, and is expanding its product offerings into the RWA sector.