Unlike previous cycles, it was RWA altcoins, not memecoins, that had influence in this latest cycle.
Recognizing this trend, the CEO of Robinhood recently claimed that the future of cryptocurrency lies not in memecoins, but in real-world assets.
Vladimir Tenev, CEO of US stock and cryptocurrency exchange Robinhood, says the future of cryptocurrencies lies in the tokenization of real-world assets (RWA).
Speaking to CNBC, Tenev said assets like memecoins are not notable. He added that traditional finance and crypto are moving towards a convergence phase and the future of digital assets lies in RWA (Random Number Waiver).
Tenev said that if an asset has no use, it means it is not productive and therefore creating hundreds of memecoins is pointless.
Robinhood’s Uniswap partnership is underrated!
While Robinhood’s CEO said the focus should be on RWA assets, Geoff Kendrick, head of digital assets research at Standard Chartered, said the partnership Robinhood entered into was underappreciated.
Geoff Kendrick said the market underestimated the partnership between decentralized exchange Uniswap and Robinhood. Kendrick said this partnership demonstrates that Uniswap is a high-quality decentralized finance (DeFi) protocol trusted by large traditional companies like Robinhood.
He added that other similar partnerships could be formed in the future.
Uniswap previously announced that it would act as the primary DeFi infrastructure partner for Robinhood Chain, Robinhood’s proprietary layer 2 blockchain, and serve as a native automated market maker (AMM).
Standard Chartered, which recently added Uniswap to its radar in the DeFi sector, identified it as a key hub for trading tokenized assets and set a $100 price target for UNI.
*This does not constitute investment advice.
