Vlad Tenev, chief executive officer of Robinhood Markets Inc., during the Token2049 conference in Singapore, on Thursday, Oct. 2, 2025.A tokenized asset is a digital representation of a real-world asset, like stocks, bonds, or commodities, that can be recorded and traded on a blockchain or distributed ledger."I think most major markets will have some framework in the next five years," he said, though he added that reaching 100% could take more than a decade."Tokenization is like a freight train. It can't be ...