Binance CEO Richard Teng revealed that the on-chain Real-World Asset (RWA) market has surged approximately 589% since the start of 2025, citing a recent industry report. According to Binance Research, the total value of tokenized traditional assets now exceeds $31 billion, up from around $21.5 billion at the beginning of 2026 and about five times higher than early 2025 levels.
Bonds and money market funds led the expansion, adding $6.5 billion in on-chain value. Stocks and indices contributed a $2.2 billion increase, while precious metals added $1.5 billion. Notably, the stocks and indices segment posted the highest growth rate among major asset classes at 422% since early 2025, signaling strong institutional appetite for tokenized equity products.
The rapid adoption of on-chain RWAs marks a significant convergence between decentralized finance (DeFi) and traditional finance (TradFi). Tokenized U.S. Treasury products, money market funds, gold-backed assets, and public equities are moving beyond experimental pilots into competitive institutional markets. Asset managers are leveraging blockchain for improved settlement speed, transparency, and programmability.
Despite the growth, regulation remains the primary constraint. Tokenized Treasuries and money market funds rely on off-chain legal structures and regulated custodians, while tokenized equities face complex securities-law hurdles. However, Binance’s data underscores that tokenization has become one of the most credible institutional use cases, connecting blockchain infrastructure to existing capital pools. The market impact could grow if tokenized assets are increasingly used as collateral in trading and lending systems.
