The State of RWAs: Learnings from ONCHAIN 2025

The State of RWAs: Learnings from ONCHAIN 2025

Real-world asset (RWA) tokenization is no longer an experiment—it’s becoming an embedded pillar of modern finance. With nearly $20 billion in RWAs brought on-chain (as of Q1 2025) and firms like BlackRock, Apollo, and most recently 景顺投资 (Invesco) entering the space, the conversation at ONCHAIN 2025 wasn’t about if tokenization works. It was about scaling it.

As one of Asia’s first dedicated RWA summits, ONCHAIN 2025 brought together industry leaders who agreed: the next phase will be decided by execution, not ambition. Liquidity, accessibility, interoperability, and distribution emerged as the critical battlefronts. Here’s what stood out.

Tokenizing an asset doesn’t guarantee it will trade. Without secondary market liquidity, tokenized RWAs risk becoming digital deadweight. Panelists agreed: liquidity depends on credible market structures, trust, and real demand—not just putting assets on-chain. Solutions discussed included compliant AMMs, regulated trading venues, and the role of brokers bridging buyers and sellers. Active secondary markets are now a top priority—something DigiFT is advancing with its AMM mechanism and regulated status in SingaporeHong Kong.

Improving accessibility isn’t just about reaching more users. It’s about reaching the right ones. Institutional investors—who collectively manage over $70 trillion globally—demand RWAs that meet strict compliance, risk, and operational standards.

Surveys show 69% of institutions plan to increase their digital asset allocations in the next five years​—but capital will only flow toward products that meet institutional-grade requirements. At DigiFT, we believe institutional-grade RWAs are the real unlock: assets built to the expectations of institutional allocators, seamlessly integrated into regulated investment workflows.

Today’s RWA ecosystem spans public blockchains, permissioned ledgers, and private networks—all largely siloed.

Composability—the ability for tokenized assets to interact across platforms—and interoperability with traditional finance will be essential to scale adoption and unlock liquidity. Building bridges between blockchains, and aligning with traditional finance infrastructure, will be critical to avoid liquidity fragmentation and unlock cross-border capital flows. Some asset managers are already launching products across multiple blockchains to avoid fragmentation.

At DigiFT, our RWA products are deployed on Ethereum, and most recently, Arbitrum—unlocking greater accessibility, lowering transaction costs, enhancing scalability, and enabling smoother integrations with DeFi applications.

Success won’t just depend on tokenizing more assets—it will depend on distributing them effectively. Banks, exchanges, fintechs, and asset managers are now building pipelines to bring RWAs into mainstream investment channels. Crucially, the involvement of institutions lends credibility; a tokenized asset issued by a household-name institution that is accessible via a licensed distributor carries more weight with conservative investors.

Broader distribution, across geographies and investor profiles, will require not just technology, but regulatory reciprocity and common standards for investor protection across borders. The direction is set: widening the distribution funnel and secondary market access is now at the top of the industry’s priority list.

Where DigiFT Fits In

The learnings from ONCHAIN 2025 paint a picture of an industry coming together around the practical work of scaling tokenized markets. Liquidity, accessibility, interoperability, and distribution are no longer talking points—they are action items.

The next phase of tokenization will be defined by building the rails and guardrails that can support institutional-scale traffic. At DigiFT, we’re building that infrastructure: a regulated, compliant, cross-border marketplace where institutional-grade RWAs can thrive.

As the RWA sector moves to full production, the momentum is unmistakable. The coming years won’t be about proving tokenization—they’ll be about executing it at scale.

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