Real-world asset (RWA) tokenization — the process of representing physical or financial assets like bonds, stocks, and real estate on a blockchain — is rapidly moving from concept to reality among major financial institutions. Over $31 billion worth of real-world assets are already tokenized on-chain today, and projections range from $2 trillion to $16 trillion in tokenized assets by 2030, according to estimates from McKinsey and Boston Consulting Group respectively.

Major players are accelerating their moves in this space. The New York Stock Exchange's parent company, Intercontinental Exchange, announced plans to launch a tokenization platform enabling 24/7 trading and instant settlement of stocks and ETFs using blockchain. Meanwhile, JPMorgan, Mastercard, Ripple, and Ondo Finance recently completed the first real-time cross-border settlement of a tokenized Treasury fund — a sign that Wall Street is actively building the infrastructure for a tokenized financial system.