Carlos Domingo: Why Tokenization Goes From Billions To Trillions (Full Thesis)

The Rollup · Sep 22, 2026 · 17m

Carlos Domingo says what Robinhood issued are debt securities, and the industry is conflating three very different products under one word. He walks through all three models, explains why only one gives you actual ownership, and argues the digital assets degen audience buying them is a far smaller market than people assume. He also flags a closing window: the SEC's transfer agent proposal is open for comment until November, and unlike the Gensler era, this one is actually reading them. Plus what going public really changed, with $50 million in the bank and acquisitions on the radar.

Carlos…