PANews reported on May 18 that Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that the total size of on-chain tokenized assets is expected to reach $4 trillion by the end of 2028, with stablecoins and real-world assets (RWA) tokenization each accounting for approximately $2 trillion. The bank believes that mature DeFi protocols will be the main beneficiaries.

Standard Chartered points out that DeFi's "composability" allows the same asset to simultaneously generate yield, be used for collateralized lending, and be traded for liquidity, without the need for multiple intermediaries in traditional finance. The report cites BlackRock's BUIDL fund as an example, stating that it has been used for DeFi collateralization and stablecoin reserve assets.

Furthermore, Standard Chartered believes that if the Clarity Act is advanced, it will become an important catalyst for further blockchain-based development of traditional financial assets.