In recent years, RWA has reached a critical turning point in the blockchain finance sector. According to market data, the market size of RWA tokens surged from approximately $8.6 billion in the first half of 2025 to over $23 billion, an increase of 260%. Meanwhile, the industry generally predicts that the annual market value may exceed $50 billion and is expected to climb to the trillion-dollar level by 2030.
On the policy front, the Hong Kong region officially launched the "RWA Registration Platform" on August 7, and released three Web3 standards, including guidelines for RWA tokenization business, technical specifications, and blockchain-based stablecoin cross-border payment technical specifications. This move signifies Hong Kong's ambition to become a global hub for digital financial innovation and compliance, playing a key role in the legalization and standardization of the RWA ecosystem.
Animoca Brands and ProvLabs have teamed up to launch the NUVA marketplace, which is based on the Provenance blockchain and currently manages a total RWA value of approximately $15.7 billion. The first batch includes SEC-registered yield-bearing stablecoin YLDS and home equity line of credit HELOC, providing trading convenience and liquidity through a "vault" mechanism.
Ondo Finance has acquired blockchain developer Strangelove to enhance its technical capabilities and advance the RWA standardization on-chain process. At the same time, Pharos and Morpho have collaborated to modularly integrate the latter's $9 billion infrastructure managed in the DeFi lending space into the RWA lending mainnet, facilitating institutional-level credit matching.
Securitize, a pioneer in the regulatory tokenization of RWA, has issued over $4 billion in assets on-chain (including $280 million in tokenized government bonds, $400 million in the largest tokenized equity, and $150 million in private credit products) and was recognized as a leading company in the fintech sector in 2025.
Traditional financial institutions are also accelerating their entry into the RWA space. Goldman Sachs and BNY Mellon are utilizing blockchain technology to promote the tokenization of money market funds, allowing institutional clients to subscribe or redeem on-chain while still retaining traditional bookkeeping processes, presenting a "sandbox" nature of exploration.
Additionally, Tokenized Treasury funds experienced explosive investment in 2025, with market value surging 80% to $7.4 billion, becoming a new choice for users holding cash or stablecoins seeking returns, and gradually being used as collateral for derivatives trading. The collaboration between Tradeweb and Digital Asset further strengthens the role of RWA in tokenized collateral and daily settlements, supporting on-chain transfers of assets including government bonds and repurchase agreements.
Despite the industrialization of RWA, challenges remain significant. A JPMorgan report indicates that the overall market size of RWA tokenization is currently only about $25 billion, primarily driven by crypto companies, with insufficient participation from traditional financial institutions.
At the same time, some institutions warn that tokenized assets often represent synthetic exposure and lack legal ownership protection. Users facing freezes or platform issues may find themselves in a situation where they cannot claim compensation. Therefore, enhancing user education and advancing a more rigorous regulatory framework is increasingly urgent.
From infrastructure construction and platform integration to institutional participation, RWA is shaping a new paradigm in blockchain finance. Several consulting firms predict that by the 2030s, the tokenization market size will reach $2 trillion, with some industry research projecting as high as $30 trillion. This new form of integration from "on-chain assets" to "off-chain value" will give rise to Finance 3.0, extending from DeFi to TradFi.
Facilitating lending, improving capital flow efficiency, optimizing cross-border payments, and ensuring transparent governance are trends that are collectively driving the wheels toward a future of "real assets on-chain and inclusive financial services."
Related: White House: Trump will allow U.S. 401(k) retirement plans to invest in cryptocurrencies
Original: “Blockchain Finance New Era: RWA Accelerates Adoption and Institutional Embrace”
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