Robinhood CEO says chain performs well for memecoins despite RWA focus

Vladimir Tenev, CEO of the U.S. stock and crypto trading app Robinhood (Nasdaq: HOOD), stated that while the Robinhood Chain is being optimized for real-world assets (RWA), it also demonstrates excellent performance for running projects like memecoins. His remarks follow a surge of approximately 950% in the last 24 hours for CASHCAT, a memecoin on the Robinhood Chain. This appears to contrast with his comments on July 3, when he said the future of digital assets lies in RWA. At that time, he emphasized bringing proven real-world assets on-chain rather than creating tokens without tangible utility, such as memecoins, adding that there is no point in creating hundreds of memecoins if they are not productive assets.