Boom: 2022–2024
Although the 2022 crypto winter caused price declines, infrastructure continues to develop, paving the way for institutional adoption.
Institutional Steps
🔹 BlackRock begins to openly discuss tokenization.
🔹 2023: Larry Fink stated that tokenization will 'revolutionize finance.'
🔹 JPMorgan expands its Onyx blockchain platform to support tokenized assets.
🔹 Franklin Templeton launched the OnChain U.S. Government Money Fund on Polygon.
DeFi Integration
🔹 Ondo Finance issues tokenized U.S. government bonds (OUSG), aimed at institutional investors.
🔹 Centrifuge partners with traditional lenders to bring private credit to the blockchain.
🔹 MakerDAO allocates billions of dollars in real-world asset (RWA) collateral (mostly government bonds) to support DAI.
💡 By the end of 2024, tokenized government bonds alone will reach several billion dollars, offering stable yields in a volatile crypto market.
Regulatory Clarity Arrives
🔹 GENIUS AS Act (July 2025): Provides clear rules for stablecoins and tokenized assets.
🔹 EU MiCA (2024–2026): Creates a passport framework for tokenized assets across Europe.
✅ This law reduces fear and opens the door for large-scale institutional participation.
