The market for real-world asset (RWA) tokenization exceeded $36 billion in 2025, growing by more than 2,200% over five years. Experts predict it could reach $16–30 trillion by 2030, though a key barrier remains the fragmentation of blockchain infrastructure.
According to the State of RWA Tokenization 2026 report, the market grew from $1.5 billion in 2020 to $36.27 billion by November 2025. The number of holders surpassed 500,000, increasing by more than 11% in a single month, indicating rapidly rising interest in this new investment class.
The study was conducted by the RWA.io team with contributions from experts at Coinbase, Franklin Templeton, Canton Network, Ondo Finance, Figure, Polygon, TRON DAO, and others.
The main growth driver is demand for yield-generating instruments. More than half of the market (52.7% or $19.1 billion) is accounted for by private credit, while another $9 billion (24.8%) comes from tokenized bonds and treasuries. Together, these segments make up 77.5% of the total market, reflecting institutional investors’ interest in stable income sources.
Despite rapid growth, the market remains fragmented. Assets are spread across different blockchains, leading to price discrepancies of 1–3% for identical instruments and additional capital transfer costs of 2–5% per transaction. In some cases, total investor losses when moving funds between networks reach around 3.5% of the asset’s value.
Fragmentation also complicates institutional participation, as firms must manage assets across multiple networks, increasing operational costs and reducing portfolio efficiency. Analysts identify the lack of interoperability between blockchains as the primary barrier to scaling the market.
Security remains an additional risk. In H1 2025, losses from incidents in the RWA sector reached $14.6 million, up 143% YoY. The main causes were smart contract exploits and key compromises, rather than defaults on underlying assets.
Experts agree that further market growth depends on the development of cross-chain interoperability solutions. Building a unified infrastructure could remove current limitations, improve liquidity, and open access to a global investor base.
According to forecasts, if the fragmentation issue is resolved, the tokenized asset market could grow to $16 trillion in a conservative scenario and up to $30 trillion in an optimistic one by 2030, potentially reshaping the global financial system. Notably, analysts at Standard Chartered made a similar forecast back in 2024.
CP Media previously conducted an in-depth analysis of the RWA sector in 2025, examining key metrics and notable case studies, and outlining potential development paths for the tokenization market in the coming years.
