According to CoinMeta, Robinhood CEO Vlad Tenev indicates that although the stock tokens of Robinhood have not yet been launched in the United States, their overseas stock token business has covered more than 120 countries and regions, providing access to over 190 U.S. stocks, with each stock being supported on a 1:1 basis by the corresponding token. The existing stock tokens offer on-chain economic rights, including dividends, but they are not equivalent to directly holding the underlying stocks. Tenev believes that stock tokenization can enable real-time settlement, 24/7 trading, autonomous asset management, and cross-platform transfers, and can also be used for DeFi lending and trading collateral. As regulatory frameworks continue to improve, the structure of tokenized stocks may further evolve in the future, potentially granting holders the same full rights as traditional stocks. He stated that the current U.S. securities regulatory system is primarily built around traditional market infrastructure, and adjustments to relevant rules will be necessary to support the development of tokenization while maintaining investor protection and market integrity.