The market for tokenized real-world assets (RWA), excluding stablecoins, is currently valued at approximately $25 billion. Analysts project this figure will exceed $51 billion by mid-2026, representing a growth of over 100% within an 18-month period.
J.P. Morgan is developing tokenized money-market funds via its Kinexys platform. In December 2025, the bank facilitated a commercial paper issuance for Galaxy Digital on the Solana blockchain, with Coinbase and Franklin Templeton participating as buyers.
Coinbase has introduced tokenized equities, perpetual futures, and pre-IPO offerings for non-US clients, integrating Yahoo Finance data for its interface. Binance has partnered with Ondo Finance and resumed its tokenized stock trading services.
Robinhood now provides European clients with synthetic derivatives of US stocks, allowing exposure to private companies such as OpenAI and SpaceX. Meanwhile, Revolut is seeking a MiCA license to offer regulated digital asset services in the EU.
The growth of the RWA sector is driven primarily by fixed-income assets and tokenized Treasuries. The adoption of public blockchains like Solana and Base by major financial institutions indicates that these networks now meet institutional reliability standards.
