RWA (Real World Asset Tokenization), simply put, is about giving real assets like houses, bonds, and gold a "blockchain ID", allowing them to circulate across regions, at low cost, and around the clock. The core is to make assets more flexible, transactions cheaper, and lower the participation threshold. In 2025, this sector will experience an explosion, with total on-chain RWA (excluding stablecoins) reaching $35 billion, a surge of 150%, as giants like BlackRock and Franklin Templeton enter the market.
1. The core logic and development history of RWA
- Essence: It is not about creating new assets, but about giving traditional assets a "speed boost", like moving offline stores to e-commerce, with vastly different circulation efficiency. For example, on-chain short-term rentals and transferring remaining lease terms, with automatic rent settlement.
- Evolutionary History: 2009-2018 Budding Period (STO Trial) → 2019-2022 Exploration Period (DeFi Acceptance of RWA Collateral) → 2023 to Present Explosive Period (Regulatory Implementation + Major Players Entering + Demand for Stable Returns).
- Explosive Drivers: Institutional Entry Endorsement, Clear Regulatory Framework (e.g., EU MiCA Bill), Market Demand for Low-Volatility Assets Resonance.
2. Classification of Popular Assets: From Safety to Potential
1. Stablecoins: The Ecological 'Foundation,' Market Cap $311.99 Billion, USDT, USDC, etc. Are Common Trading Currencies, Some Can Enjoy Treasury Bond Returns.
2. Private Credit: High-Yield Mainstay, Scale $18.66 Billion, Annualized 5%-15%, but Beware of 'Junk Bond' Risks.
3. U.S. Treasury Bonds: Safe First Choice, Scale $8.7 Billion, $1 Can Be Invested, Annualized 3%-5%, Both Institutions and Retail Investors Can Participate.
4. Commodities: Gold Leads, Scale $3.5 Billion, 1:1 Peg to Physical, Small Amounts Can Be Purchased, Liquid Anytime.
5. Real Estate: Investment in Fragmented Ownership for $50, but Faces Challenges of Ownership Transfer and Valuation Transparency.
6. Listed Stocks: Hot Technology Stocks, Scale $6.61 Billion, 24-Hour Trading but Insufficient Liquidity.
3. Trends, Risks, and Participation Suggestions
- Core Trend: Not Disrupting Traditional Finance, but Rather a Two-Way Fusion, Inclusive of 1.7 Billion Unbanked People Globally.
- Three Major Risks: Regulatory Rule Differences, Underlying Asset Credit Defaults, Insufficient Liquidity of Some Assets.
- Participation Principles: Beginners Start with Stablecoins, Tokenized Treasury Bonds; Choose Platforms with Audits and Major Endorsements; Diversify Investments to Hedge Risks.
RWA is by no means a bubble, but rather a financial 'new infrastructure.' BCG predicts that by 2030, the global scale will reach $16.1 trillion, with nearly 50 times growth potential. The 'integrator' that can merge traditional financial trust and blockchain efficiency will become the final winner.
