Robinhood’s Johann Kerbrat took to the stage at the Consensus 2025 event in Toronto this week, championing tokenization as a groundbreaking step towards democratizing financial markets. “It’s very important for financial inclusion,” said Kerbrat, who serves as the senior vice president and general manager of Robinhood Crypto. His remarks shed light on how tokenization could potentially unlock a wider range of investment opportunities for the average retail investor, tapping into asset classes like real estate and private equity that have historically been the domain of the financial elite.
Tokenization: A Gateway to Financial Inclusion
Kerbrat’s enthusiasm for tokenization is rooted in its potential to fractionalize ownership of high-value assets, thereby dismantling barriers that have long kept ordinary investors out of lucrative markets. “You need to be an accredited investor to invest in private equity right now,” he pointed out, emphasizing the exclusivity that currently surrounds these investment avenues. By breaking down assets into smaller, more affordable tokens, individuals who might otherwise be priced out of markets like New York real estate could gain access to these sectors. This aligns with recent developments such as the world’s largest $3B RWA tokenization deal inked by MultiBank, MAG, and Mavryk, highlighting the growing interest in tokenizing real-world assets.
Robinhood is not alone in this venture. Other financial heavyweights such as BlackRock, Franklin Templeton, Apollo, and VanEck are also exploring the potential of Real World Asset (RWA) tokenization. According to data from RWA.xyz as of May 16, the total market capitalization of on-chain RWAs stands at $22.5 billion, spread across a modest 101,457 asset holders. This suggests an average holding of $221,867 in on-chain assets per investor, hinting at the substantial, untapped potential for growth in this space.
The Shifting Landscape of Stablecoins
Kerbrat didn’t stop at tokenization. He also explored the burgeoning stablecoin market, predicting an evolution towards more specialized tokens tailored for specific markets. “You will see 100 stablecoins,” he forecasted, noting the dominance of dollar-pegged stablecoins like Tether’s USDT and Circle’s USDC, which together hold an impressive 87.1% of the $243.3 billion stablecoin market cap.
Yet, the winds of change appear to be blowing. According to Dea Markova, policy chief at Fireblocks, there is a rising appetite for non-dollar-pegged stablecoins, as global investors seek alternatives that mitigate the risks associated with currency fluctuations. This shift could usher in a new era where stablecoins are not just digital dollars but diversified instruments catering to various economic needs. “If you’re trying to move funds from the US to Singapore, maybe you will use a specific stablecoin,” Kerbrat suggested, envisioning a future where multiple stablecoin platforms handle a vast array of currency needs. This mirrors the innovative strategies seen in the Tokenized Apollo Credit Fund’s DeFi debut, which leverages a levered-yield strategy to enhance returns.
Looking Ahead: Opportunities and Challenges
As Robinhood and other firms continue to delve into the world of tokenization and stablecoins, the implications for the financial landscape are profound. Tokenization could democratize access to previously unattainable asset classes, while the diversification of stablecoins might provide investors with new tools for navigating international markets. However, these innovations also raise questions about regulatory frameworks and market stability, especially as the sector continues to expand.
The coming months and years will be pivotal. As new forms of tokenized assets and specialized stablecoins emerge, the financial world will need to adapt to these innovations, balancing accessibility with caution. The steps taken by Robinhood and its contemporaries today could very well shape the future of investment for generations to come. And as with any nascent technology, only time will tell whether these shifts will lead to broader financial inclusion or if new barriers will emerge in their place.
Source
This article is based on: Tokenization makes investing more accessible — Robinhood exec
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
