Market Overview
| Segment | Value | Change |
|---|---|---|
| Tokenized U.S. Treasuries | $15B+ | +$5.4B in 14 months |
| Tokenized Commodities (Gold) | $7.3B | 3rd largest RWA class |
| Tokenized Equities | ~$960M | 2x from mid-2025 |
| Total On-Chain RWA | ~$29B | +30% Q1 2026 |
Regulatory Highlights
🇨🇳 China 2026 Notice — RWA Legal Pathway
- First formal distinction between RWA tokenization and cryptocurrency
- Offshore RWA permitted with regulatory filing
- CSRC issued ABS Tokenization Guidelines
🇭🇰 Hong Kong SFC
- First real estate tokenization product approved (Derlin Holdings)
- 24/7 secondary trading framework established
🇺🇸 US Regulatory
- SEC: "tokenized securities are securities"
- NYSE building 24/7 tokenized securities venue
- Nasdaq SEC-approved tokenized trading