RWA On-chain Finance Report: Panoramic Market Report for the First Half of 2025

  • RedStone Oracle's 2025 mid-year report reveals explosive growth in real-world asset (RWA) tokenization, with the market surging from $5B (2022) to over $24B by June 2025 (380% increase), now ranking as crypto's second-fastest-growing sector after stablecoins.
  • Institutional adoption has shifted from pilots to large-scale deployment, driven by infrastructure maturation and support from major players like BlackRock, JPMorgan Chase, and Franklin Templeton.
  • Private credit dominates RWA tokenization ($14B segment), showcasing institutional demand for blockchain-native credit markets with improved liquidity and yield opportunities.
  • Compliant DeFi integrations (e.g., Ethena, Maple, Spark) are transforming illiquid assets into composable financial primitives, bridging traditional finance's $400T+ assets to blockchain.
  • RWA oracles (e.g., RedStone) enable complex pricing mechanisms (NAV, compliance adjustments), critical for institutional adoption and integrating tokenized assets into DeFi at scale.
  • Forecasts suggest 10-30% of global assets could be tokenized by 2030-2034, unlocking trillion-dollar value as blockchain becomes key infrastructure for modernizing finance.
Summary

RWA On-chain Finance Report: Panoramic Market Report for the First Half of 2025

On June 26, 2025, RedStone Oracle released the "Real-World Assets in On-chain Finance Report", further advancing into the RWA ecosystem. RedStone's latest report highlights the significant growth and transformative potential of real-world asset (RWA) tokenization in the blockchain ecosystem. Since only $5 billion in 2022, the RWA market has surged to more than $24 billion in mid-2025, firmly ranking as the second fastest growing area of cryptocurrency. The report points out that institutional adoption has shifted from the pilot stage to large-scale deployment, a shift that has benefited from the continuous improvement of infrastructure and the support of major financial institutions including BlackRock, JPMorgan Chase and Franklin Templeton. As RWA tokenization gradually becomes a bridge between traditional finance and blockchain, innovative compliant DeFi integrations and sophisticated pricing oracles led by companies such as RedStone have laid the foundation for building an efficient, transparent and liquid global asset market. With private credit as the main driver of growth, industry forecasts show that the asset tokenization ratio is expected to reach 30% by the early 2030s. RedStone's insights show a bright prospect of unlocking trillions of dollars of value through blockchain.

Please click on the link to view the full report:

RWA On-chain Finance Report: Panoramic Market Report for the First Half of 2025

RWA On-chain Finance Report: Panoramic Market Report for the First Half of 2025

Key Takeaways:

The RWA (real-world asset) tokenization market surges from $5 billion in 2022 to over $24 billion by June 2025 (up 380%), becoming the second fastest growing sector in cryptocurrency after stablecoins. While stablecoins are technically tokenized fiat currencies, we exclude them from this report as our research team is already diving deeper into the subject. Industry forecasts suggest that 10% to 30% of global assets could be tokenized by 2030-2034, and RWA is becoming the bridge connecting over $400 trillion in assets in the traditional financial industry to the blockchain - a figure that is more than 130 times the current cryptocurrency market size of approximately $3 trillion.

Asset tokenization has steadily moved from the pilot experimentation phase to large-scale institutional adoption in 2024-2025. By December 2024, the tokenized real asset market has reached $15.2 billion (excluding stablecoins) and continues to grow, exceeding $24 billion by June 2025, achieving an impressive annual growth of 85%.

The current wave of institutional adoption reflects the accumulation of years of infrastructure construction, which has finally led to large-scale production deployment. Major financial institutions including BlackRock, JPMorgan Chase, Franklin Templeton and Apollo have moved from experiments to large-scale applications. At the same time, governments are increasingly viewing blockchain as a key infrastructure for modernizing traditional financial systems and addressing macroeconomic structural challenges. Thanks to the gradual improvement of the regulatory environment, RWAs are experiencing rapid development.

RWAs are entering a new round of growth through DeFi integration with regulated architectures, transforming historically illiquid assets into composable financial primitives. Platforms like Ethena, Maple, Spark, Morpho, Pendle Citadels, Drift Institutional, Kamino, and Securitize’s sTokens enable institutional assets to access DeFi liquidity while maintaining compliance, creating potential opportunities for yield amplification and secondary markets that are difficult to achieve in traditional finance.

As of June 2025, private credit has become the largest RWA tokenization segment at $14 billion, demonstrating strong institutional interest in blockchain-native credit markets. Tokenization addresses key limitations of the industry by reducing operating costs, improving access and distribution, and also provides the potential for a robust secondary liquidity market - while maintaining institutional underwriting standards and providing high-yield opportunities previously only available to accredited investors.

RWA oracles represent a fundamental change that requires a whole new technology stack - professional providers like RedStone are at the forefront of driving complex pricing mechanisms, laying the foundation for institutional adoption. Unlike DeFi's real-time price data, RWA pricing requires a complex architecture that integrates net asset value (NAV), regulatory compliance, and liquidity adjustments, providing critical infrastructure for the integration of trillions of dollars of tokenized assets into decentralized finance (DeFi).

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Author: PA观察

This article represents the views of PANews columnist and does not represent PANews' position or legal liability.

The article and opinions do not constitute investment advice

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