The tokenization of real-world assets, from stocks to real estate, will spread to financial markets around the world, according to Robinhood Markets Chief Executive Officer Vlad Tenev.

"Tokenization is like a freight train. It can't be stopped, and eventually it's going to eat the entire financial system," Tenev told a panel at a crypto conference in Singapore on Wednesday.

"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.

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.

In June, Robinhood began offering more than 200 tokenized U.S. stocks to custome

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