RWA Tokenization Market Mid-Year Report 2025

A recent report on the application of real assets (RWA) in on-chain finance shows that the RWA tokenization market is experiencing explosive growth. From a scale of $5 billion in 2022, it has surpassed $24 billion by June 2025, an increase of 380%. This makes RWA the second fastest-growing sector in the cryptocurrency field after stablecoins.

Industry predictions suggest that by the early 2030s, the tokenization rate of global assets is expected to reach 10% to 30%. This means that RWA is becoming an important bridge connecting traditional finance and blockchain. The traditional financial industry's asset scale is about $400 trillion, far exceeding the current market value of around $3 trillion in cryptocurrency.

Between 2024 and 2025, asset tokenization has steadily moved from the pilot stage to institutional-scale applications. By the end of 2024, the RWA market ( excluding stablecoins ) will reach a scale of $15.2 billion and continue to grow. By June 2025, it is expected to exceed $24 billion, with an annual growth rate as high as 85%.

This wave of institutional adoption is the result of years of infrastructure development. Many large financial institutions have moved from the experimental phase to large-scale deployment. At the same time, governments around the world are increasingly viewing blockchain as a key infrastructure for modernizing the financial system and addressing structural challenges in the macro economy. The gradual improvement of the regulatory environment has created favorable conditions for the rapid development of RWA.

Through compliant DeFi integration, RWA is ushering in a new round of growth. Some innovative platforms enable institutional assets to gain DeFi liquidity while remaining compliant, creating opportunities for yield amplification and secondary markets. These are difficult to achieve in traditional finance.

By June 2025, private credit has become the largest RWA tokenization submarket, with a scale of 14 billion USD. Tokenization addresses the main constraints of the industry by reducing operational costs, improving access and allocation, and also provides the possibility to establish a robust secondary liquidity market.

RWA oracles represent a fundamental transformation that requires a completely new technological system. Some specialized providers are at the forefront of advancing complex pricing mechanisms, laying the groundwork for institutional adoption. The pricing of RWA needs to integrate complex frameworks such as net asset value, regulatory compliance, and liquidity adjustments, providing critical infrastructure for the integration of trillions of dollars in tokenized assets into decentralized finance.