Standard Chartered anticipates a seismic transformation in the financial landscape, forecasting that the value of tokenized real-world assets (RWAs) could surge to $2 trillion by 2028. This projection represents a more than 57-fold increase from the current estimated valuation of $35 billion. According to the bank, this exponential growth will be fueled by increasing liquidity, technological innovation, and the institutional embrace of blockchain infrastructure.
At the center of this anticipated shift are stablecoins—blockchain-based digital currencies pegged to fiat assets—whose role is rapidly evolving from niche financial tools to foundational components of a broader decentralized ecosystem. With a current market capitalization exceeding $308 billion, stablecoins like USDT, USDC, and emerging entrants such as USDe, USDS, and DAI are accelerating the adoption of decentralized finance (DeFi) frameworks by offering efficient and transparent transaction settlement.
Geoffrey Kendrick, head of digital asset research at Standard Chartered, emphasizes that tokenized assets are no longer speculative experiments. Instead, they are poised to redefine the architecture of the global financial system. Kendrick predicts that the performance and integration of stablecoins in 2025 will act as a pivotal catalyst for the mainstreaming of blockchain finance, extending its reach beyond crypto-native participants to traditional financial institutions and everyday investors.
The bank identifies tokenized money-market funds and publicly traded equities as the primary drivers behind the expected expansion. Each of these asset classes is projected to approach $750 billion in tokenized value. Additional growth is anticipated from the digitization of corporate bonds, commodities, real estate, private equity holdings, and investment funds.
This transition is already underway. Leading technology firms like Oracle and financial infrastructure providers such as IPDN are entering the tokenization space, signaling a shift from experimentation to strategic implementation. Meanwhile, traditional financial institutions—ranging from global banks to asset managers—are actively building blockchain-based systems for credit issuance, treasury management, and trading platforms.
The widespread involvement of these legacy players suggests that the tokenization of real-world assets is not just a possibility, but an inevitability. The question has moved from “if” to “how soon” the industry will reach the projected $2 trillion valuation.
One key enabler of this transformation is the ability of stablecoins to facilitate real-time, trustless settlement between parties. Unlike conventional financial rails that can take days to process transactions, on-chain stablecoin transfers occur almost instantaneously, greatly increasing efficiency and reducing counterparty risk. This makes them ideal for use in large-scale financial operations, including securities trading and global remittances.
Moreover, as stablecoins become more embedded in institutional workflows, regulators and central banks are being forced to reconsider their roles within a blockchain-powered economy. While some fear that DeFi could diminish the influence of central banking systems, others argue that central banks can adapt by issuing their own digital currencies or integrating with decentralized networks.
The projected rise in tokenized asset value also has implications for global liquidity. By enabling fractional ownership and 24/7 trading of traditionally illiquid assets like real estate or private equity, tokenization could unlock vast pools of capital and make financial markets more accessible. This democratization of investment opportunities could significantly reshape wealth distribution and financial inclusion.
Another important aspect is interoperability. For tokenized assets to reach mass adoption, they must be easily transferable across various blockchain platforms and compatible with existing financial systems. Efforts are already underway to develop common standards and protocols to ensure seamless integration, such as cross-chain bridges and smart contract frameworks.
Security remains a critical consideration. As the tokenization of high-value assets becomes more widespread, the risk of smart contract vulnerabilities, hacking, or regulatory gaps grows. Institutions entering this space must prioritize robust cybersecurity measures, thorough audits, and compliance with evolving legal frameworks to ensure trust and system integrity.
Furthermore, the evolution of tokenized finance could catalyze the growth of new asset classes entirely native to the blockchain ecosystem. From digital art (NFTs) to synthetic assets and decentralized insurance products, the boundaries of what constitutes a financial asset are expanding rapidly.
Looking ahead, the next four years will be crucial in determining the trajectory of tokenized assets. If Standard Chartered’s forecast materializes, it won’t just mark a milestone in asset digitization—it could signify the dawn of a new financial paradigm, where blockchain acts as the foundational layer for global capital markets.
In sum, the convergence of stablecoins, institutional adoption, and tokenization technology is setting the stage for profound structural changes in finance. Standard Chartered’s bold projection of $2 trillion in tokenized RWAs by 2028 is not merely speculative optimism—it reflects a rapidly maturing ecosystem that is beginning to challenge the dominance of traditional financial systems.