Binance: On-Chain Tokenized RWA Skyrockets by 589% to $31.4 Billion, Institutionalization Process Accelerates

BlockBeats News, June 24th, the latest report from Binance Research shows that the scale of on-chain tokenization of real-world assets (RWA) has grown by 589% since early 2025, surpassing $31.4 billion. This marks a further expansion from $21.5 billion at the beginning of 2026, representing a roughly fivefold increase from the early 2025 scale.

The growth is driven mainly by bonds and money market funds, with the two asset classes together adding around $6.5 billion, an 83% increase. The tokenization of U.S. Treasury bonds, money market funds, gold-backed assets, and tokenized equities has been a key driver of this round of growth. Although the tokenization of stocks has a relatively small base, its growth rate is particularly notable, indicating that issuing entities are testing whether the blockchain track can support a broader circulation of traditional securities.

Analysts point out that this round of RWA growth is different from the previous narratives in the crypto market, which were dominated by speculative trading or DeFi yield. It is more closely linked to traditional financial infrastructure, focusing on institutional needs such as settlement efficiency, collateral liquidity, and programmable asset services.

However, compared to the global bond, money fund, and stock markets with a scale of tens of trillions of dollars, $31.4 billion is still a drop in the bucket. The report notes that the key to the next stage of growth lies not in token issuance itself, but in the improvement of liquidity depth, legal enforceability, custody standards, and secondary market access. The regulatory framework remains a core bottleneck constraining further scale expansion.