Wu Blockchain has learned that a16z crypto stated not all tokenized assets truly possess on-chain financial attributes. Currently, bonds are the largest category of tokenized assets, with a market cap of approximately $15.2 billion, but only about 5% are used in DeFi. The situation is similar for precious metal tokens, where most assets merely exist on-chain. In contrast, around 84% of reinsurance tokens' supply is deployed in DeFi, while private credit stands at about 33%. a16z crypto believes that many so-called 'tokenizations' today are closer to asset digitization—simply migrating records to the blockchain without truly achieving composability within an on-chain financial system. https://(wublock123.com)/news/a16z-crypto-tokenized-assets-onchain-not-in-defi-61714