Gemini

Robinhood

Tesla

Blockchain tokenization is transforming money beyond fiat currencies such as the US dollar by allowing users to save and instantly move virtually any asset across platforms, said a Kraken executive.
“I think we’re past the point where money only means fiat or your local currency,” Kraken head of consumer Mark Greenberg <a href="https://www.youtube.com/watch?v=43K-XydxqU4" rel="noopener noreferrer nofollow" target="_blank">told</a> CNBC on Wednesday, adding that “anything can be money” with tokenization.
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 “You can save in Tesla xStock, you can save in Bitcoin, or — as a Canadian — you can save in US dollars, euros, euro-denominated stablecoins, or even gold.”
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<a href="https://cointelegraph.com/news/kraken-tokenized-stocks-europe-backed-xstocks" rel="noopener noreferrer nofollow">Kraken’s xStocks</a> is one of several tokenized stock offerings to hit the market this year as crypto exchanges look to expand beyond offering crypto trading. Coinbase and Gemini have also begun to <a href="https://cointelegraph.com/news/coinbase-stock-trading-prediction-markets-in-everything-app-push" rel="noopener noreferrer nofollow">offer tokenized stocks</a> and have pushed betting via prediction markets as another offering to hook users.
Greenberg said tokenized stocks on Kraken, which aren’t available in the US, have attracted more than 80,000 wallets and seen about $14 billion in trading volume since the offering was launched in the second quarter of this year.
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 <img src="https://s3.cointelegraph.com/uploads/2025-12/019b5335-a120-735f-9375-077e79d9f2bd.png" title="" alt="Tokenization has moved past money only meaning fiat: Kraken exec">
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 Mark Greenberg speaking to CNBC on Wednesday. Source: <a href="https://www.youtube.com/watch?v=43K-XydxqU4" rel="noopener noreferrer nofollow" target="_blank">CNBC</a>
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Data from <a rel="noopener noreferrer nofollow" target="_blank">RWA.xyz</a> shows nearly $415 billion worth of<a href="https://cointelegraph.com/learn/articles/tokenized-real-world-assets-rwa-in-defi" rel="noopener noreferrer nofollow"> real-world assets</a> are currently tokenized on-chain. Boston Consulting Group estimated that figure could increase to $16 trillion by 2030, while McKinsey &amp; Co predicted a more conservative $2 trillion over the same timeframe.
<h2 id="tokenization-is-faster-more-flexible-than-tradfi">Tokenization is faster, more flexible than TradFi</h2>
Greenberg said tokenization also enables users to move assets between trading platforms more easily than ever.
“If you’re trading equities here in Canada [...] moving assets from one broker to another can sometimes take weeks or even months. With crypto assets, if I want to move funds from Coinbase to Kraken or vice versa, that can happen in seconds,” he said.
Related: <a href="https://cointelegraph.com/news/crypto-2026-privacy-decentralized-identity" rel="noopener noreferrer nofollow">Crypto heads into 2026 with privacy, decentralized identity on the line</a>
<a href="https://cointelegraph.com/explained/tokenization-explained" rel="noopener noreferrer nofollow">Blockchain tokenization</a> also enables instant settlement for equity transactions, addressing limitations of traditional securities infrastructure that has remained largely unchanged for more than 50 years, Greenberg said.
<h2 id="crypto-doubles-down-on-tokenization">Crypto doubles down on tokenization</h2>
Robinhood is also among the financial platforms that are <a href="https://cointelegraph.com/news/robinhood-expands-tokenization-500-us-stocks-etfs-arbitrum" rel="noopener noreferrer nofollow">pursuing a tokenization</a> offering.
Robinhood is primarily focusing on <a href="https://cointelegraph.com/news/crypto-shows-tokenizing-private-stocks-powerful-robinhood-ceo" rel="noopener noreferrer nofollow">tokenizing private stocks</a> like OpenAI and SpaceX, while Coinbase is in the process of building a real-world asset tokenization platform for institutions as <a href="https://cointelegraph.com/news/coinbase-wallet-rebrands-base-everything-app" rel="noopener noreferrer nofollow">part of its goal</a> to build an “everything app.”
Magazine: <a href="https://cointelegraph.com/magazine/jack-dorsey-could-he-be-satoshi-nakamoto-big-questions/" rel="noopener noreferrer nofollow">6 reasons Jack Dorsey is definitely Satoshi… and 5 reasons he’s not</a>

Tokenization has moved past money only meaning fiat: Kraken exec

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