The tokenization market reached nearly $40 billion by November 2026. Research covering 7,000 products across 12 asset classes indicates that half of the market currently shows no real activity.
Major players in the sector include Ondo with a market cap of $4.0 billion, Sky with $3.9 billion, and Securitize with $3.4 billion. These three entities represent 22.5% of the total $50.3 billion sector.
Financial institutions face a challenge in balancing the need for private, controlled networks with the necessity of reaching active blockchain investors. Experts from R3, T-RIZE, and XDC highlight that technology alone does not guarantee liquidity or investor interest.
The Asian Development Bank estimated a $2.5 trillion trade-finance gap in 2025. Tokenization is viewed as a potential tool to bridge this gap by converting invoices into investment opportunities, though risks regarding compliance and secondary market liquidity remain.
Regulators are monitoring these developments, with Irish central bank governor Gabriel Makhlouf noting in November 2026 that the commercial viability and resilience of tokenized finance remain uncertain.
