Catenaa, Monday, November 03, 2025- Standard Chartered forecasts the market for tokenized real-world assets, excluding stablecoins, could surge to $2 trillion by 2028 from around $35 billion, a roughly 5,600% increase.
Geoffrey Kendrick, head of digital assets research, said the majority of this growth is expected on Ethereum due to its reliability and network effects.
Kendrick highlighted tokenized money market funds and listed equities as the largest contributors, each projected to reach $750 billion, followed by tokenized funds at $250 billion and other less liquid instruments, including private equity, commodities, corporate debt, and real estate, totaling another $250 billion.
He emphasized that stablecoins have set the foundation for broader DeFi adoption, increasing public awareness, onchain liquidity, and lending and borrowing activity.
Kendrick said tokenized RWAs traded on decentralized exchanges could disrupt traditional stock exchanges, further broadening DeFi’s reach into conventional finance.
Regulatory clarity in the `US, accelerated by the GENIUS Act and pending Digital Asset Market Clarity Act, is expected to support adoption. Kendrick cautioned that delays in regulatory guidance could slow expansion, though he sees this as a secondary risk.
