The groundwork laid by stablecoins is set to trigger a massive wave of tokenization for other asset classes, with the total market cap for real-world assets (RWAs) expected to balloon to $2 trillion by 2028, according to Standard Chartered.
“Stablecoins have laid the groundwork… for other asset classes, from tokenised MMFs to tokenised equities, to move onchain at scale,” said Geoffrey Kendrick, the bank’s head of digital assets research.
He estimates the current RWA market, excluding stablecoins, is about $35 billion, meaning the sector is poised for a 5,600% expansion as traditional finance leverages blockchain for efficiency and global settlement.
