In 2025, the RWA market, representing the tokenization of real-world assets, is showing an astonishing rise. The total market capitalization in this sector has soared to $25.4 billion, achieving a 260-fold leap compared to the previous year, making it one of the fastest-growing zones in the Web3 ecosystem.

The main factors driving this rise include the large-scale migration of government bonds and private credit to blockchain platforms, which account for 34% and 58% of the market share, respectively. Meanwhile, the continuous optimization of public chains such as Solana and Plume at the technical level has also provided a solid foundation for the development of RWA.

It is worth noting that traditional financial giants have also begun to actively layout in the RWA field. Well-known institutions such as BlackRock and Franklin Templeton have successively launched tokenization fund products, demonstrating confidence in this emerging market. In terms of regional layout, Hong Kong and Singapore are engaged in fierce competition for the status of RWA financial center.

In addition to traditional financial assets, the tokenization of non-financial physical assets is also showing a vigorous development trend. Infrastructure such as photovoltaic power stations and charging piles is achieving tokenization by integrating IoT and blockchain technology, which not only enhances the liquidity of the assets but also greatly increases the transparency of operations.

However, the rapid development of RWA also faces a series of challenges. Among them, the lack of a lender of last resort mechanism for stablecoins and compliance issues in cross-border operations are particularly prominent, necessitating innovation and breakthroughs at the regulatory level.

Looking ahead, as technology continues to mature and the regulatory environment gradually improves, RWA is expected to drive the global asset digitalization process into the trillion-dollar scale, thereby completely reshaping the infrastructure of the traditional financial system. This transformation will not only provide investors with more diversified asset allocation options but also inject new vitality into the real economy, ushering in a new era of financial innovation.