Unlike previous cycles, RWA altcoins, not memecoins, were influential in this last cycle.
Aware of this trend, Robinhood’s CEO recently claimed that the future of cryptocurrency lies not in memecoins, but in real-world assets.
Vladimir Tenev, CEO of the US-based stock and cryptocurrency exchange Robinhood, argues that the future of cryptocurrencies lies in the tokenization of real-world assets (RWA).
Speaking to CNBC, Tenev said that assets like memecoins are not noteworthy. He added that traditional finance and crypto are moving towards a convergence phase and that the future of digital assets lies in RWA (Random Number Waiver).
Tenev stated that if an asset has no utility, it means it’s not productive, and therefore creating hundreds of memecoins is pointless.
Robinhood’s Uniswap Partnership Is Being Underestimated!
While Robinhood’s CEO stated that the focus should be on RWA assets, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, said that a partnership Robinhood had made was being underestimated.
Geoff Kendrick said the market underestimated the partnership between the decentralized exchange Uniswap and Robinhood. Kendrick stated that this partnership demonstrates Uniswap is a high-quality decentralized finance (DeFi) protocol trusted by large traditional companies like Robinhood.
He added that more similar partnerships could be formed in the future.
Uniswap had previously announced that it would act as the primary DeFi infrastructure partner for Robinhood Chain, Robinhood’s proprietary Layer 2 blockchain, and would serve as the native automated market maker (AMM).
Standard Chartered, which has recently added Uniswap to its radar in the DeFi sector, identified it as a key hub for trading tokenized assets and set a price target of $100 for UNI.
