"Robinhood CEO: US Crypto Policies to Boost Industry, Stablecoins Key to Liquidity"

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Innovation-friendly policies in the US are expected to boost the crypto industry, according to Robinhood CEO Vlad Tenev. During an interview with Bloomberg TV, Tenev praised the "innovation-friendly regime" that is emerging in the US, stating that it would be a "tailwind" for Robinhood's business due to the benefits stablecoins and tokenization offer compared to the traditional financial system.

Tenev highlighted the importance of crypto trading to Robinhood's business, with transaction-based revenue from crypto reaching $358 million, equivalent to 53% of the total. He confirmed that stablecoins are a key facilitator for crypto-to-fiat on and off-ramping, allowing trading to continue without downtime. Tenev also emphasized the advantages of crypto technology over the traditional financial system, including 24/7 liquidity, regular trading, and trading of traditionally illiquid private assets.

Tenev expressed excitement about tokenization, the process of representing a real-world asset on a blockchain. He believes that tokenized private company stocks resonate best with US investors and that the addressable sector could become a trillion-dollar market composed of every private and public listed equity if the blockchain industry gains regulatory clarity.

Tenev also revealed that Robinhood wants to introduce the idea of stablecoins accruing yield to the Global Dollar Network, an open initiative anchored by the Global Dollar (USDG) that promotes stablecoin adoption globally. He explained that cash deposited in banks can accrue a 4% yield in a high-interest environment, which is not simple to experience with stablecoins.