Castle Labs has released an RWA industry report stating that the scale of on chain tokenized real-world assets (RWA) has reached $28.2 billion, an increase of approximately 500% from early 2025, with a peak of $31.8 billion. Currently, tokenized US bonds and money market funds remain the largest category, with a size of approximately $17 billion, accounting for nearly 60% of the entire RWA market. Among them, BlackRock BUIDL and Hashnote USYC have both surpassed $3 billion in size. The report also points out that tokenized stocks have become one of the fastest-growing RWA sub tracks, with a growth rate of over 170% so far this year, significantly higher than the growth rate of tokenized US bonds, which is about 60%. Castle Labs believes that the expansion of stablecoins, the entry of institutional funds, and the promotion of regulatory frameworks such as CLARITY and MiCA are driving traditional financial assets to continue going live on the blockchain. However, the biggest bottleneck in the industry has shifted from asset issuance to redemption mechanisms and DeFi composability. Currently, out of approximately $28.2 billion in on chain RWAs, only about $3 billion has entered DeFi, with a penetration rate of about 10%. https://www. (wublock123.com)/news/news-63366