Tokenized RWAs Shift from Experimentation to Institutional Adoption
The narrative around real-world asset (RWA) tokenization has evolved from speculative promise to tangible reality. Institutions like BlackRock, Franklin Templeton, and JP Morgan are no longer merely experimenting—they're actively issuing and utilizing tokenized instruments. The focus has shifted from whether tokenization will happen to where it delivers genuine economic value.
Government debt, money-market funds, and short-duration credit dominate the current landscape, with on-chain RWAs ballooning from single-digit billions to tens of billions in two years. The trillion-dollar question now centers on identifying use cases where blockchain's friction reduction justifies the effort—and where it remains a solution in search of a problem.