Decentralized oracle provider Chainlink has released a report predicting that the global tokenized asset market could reach a staggering $10 trillion by 2030. Despite recent volatility in cryptocurrency markets, Chainlink highlights how institutional adoption and regulatory progress are driving the rise of tokenized assets worldwide. The report draws on insights from 21.co, a blockchain-focused fintech company, as well as a joint study by management consulting firm BCG and digital securities exchange ADDX.
According to Chainlink’s report, the current value of tokenized assets is approximately $118.57 billion, with Ethereum dominating the market, accounting for 58% of all tokenized assets. The report emphasizes that tokenizing assets can bring liquidity to traditionally illiquid assets like real estate and private equity by representing them as digital on-chain tokens.
The report identifies several factors contributing to the growth of the tokenized asset market. These include institutional interest, blockchain integration, and a supportive regulatory framework. Ethereum’s over 6 million daily active users are seen as a significant driving force behind market growth. Additionally, regulatory initiatives like Singapore’s Monetary Authority’s Project Guardian, which involves piloting blockchain-based tokenization of bonds and deposits with regulatory support, play a crucial role.
A survey by BNY Mellon and Celent cited in the Chainlink report reveals that 97% of institutional investors believe that tokenization will revolutionize asset management. Beyond financial markets and institutional involvement, the report mentions a World Economic Forum estimate that tokenization has the potential to disrupt approximately $867 trillion of value. However, several challenges must be addressed before the $10 trillion forecast can be realized, including audit standards, asset valuation, and regulatory compliance.
Despite the positive outlook, the tokenized asset market still faces obstacles, as evidenced by ongoing lawsuits against crypto firms like Coinbase by the United States Securities and Exchange Commission. These challenges may create a bumpy road ahead for the tokenized assets market.
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