On-chain Tokenization of Real-World Assets Surpasses $25 Billion, Nearly Quadrupling in One Year

BlockBeats News, March 9th, according to CoinDesk, data shows that apart from stablecoins, the on-chain tokenization of real-world assets (RWA) has surpassed $25 billion, nearly quadrupling from about $6.4 billion a year ago. Over the past year, several traditional asset management institutions have accelerated their deployment of tokenized products, with BlackRock, Fidelity Investments, and WisdomTree all launching related tokenized fund products.

Currently, six asset classes have on-chain sizes exceeding $1 billion, including U.S. Treasuries, commodities, private credit, institutional alternative funds, corporate bonds, and non-U.S. government bonds. Among them, the growth of U.S. Treasury products is particularly significant, with the number of related tokenized products increasing from 35 to over 50.

However, industry data shows that the current growth of the RWA market mainly comes from institutional issuance rather than secondary trading. A large amount of on-chain transfer volume is concentrated at the $10 million level, indicating that institutions typically allocate funds through batch transactions rather than continuous trading.

At the same time, the degree of integration between RWA and decentralized finance remains limited. Of the approximately $84.9 billion of RWA-backed stablecoin supply, only about 12% has been deployed to DeFi protocols, with most of the remaining assets still relatively closed off due to KYC, whitelisting, and compliance restrictions. The industry believes that whether these assets can be deeply integrated into the DeFi ecosystem in the future will be a key factor in determining whether the tokenization market can further expand.