TLDR
- Standard Chartered forecasts tokenized real-world assets will grow from $35 billion to $2 trillion by 2028, a 56x increase
- Ethereum will host the vast majority of tokenized assets due to its reliability and 10+ years without mainnet outages
- Tokenized money market funds and listed equities will each account for $750 billion of the $2 trillion market
- The U.S. GENIUS Act passed in July 2025 created a regulatory framework for stablecoins, accelerating institutional adoption
- AlphaLadder CEO Eddie Hui-Bon-Hoa says tokenization will mirror stablecoin growth, enabling instant asset deployment and collateral use
Standard Chartered Bank released a forecast showing tokenized real-world assets could reach $2 trillion by the end of 2028. The current market sits at approximately $35 billion, not including stablecoins.
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Standard Chartered expects tokenized real-world assets to hit $2 trillion by 2028, rivaling stablecoins in market size.
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Geoffrey Kendrick leads digital assets research at Standard Chartered. He authored the report released Thursday outlining the growth projection.
The forecast represents about a 5,600% increase over three years. Kendrick attributes this potential growth to infrastructure built by stablecoins.
Stablecoins have created awareness, liquidity, and lending capacity on blockchain networks. This foundation enables other asset classes to move onchain at scale.
Ethereum to Dominate Tokenization
Kendrick expects most tokenized asset activity will happen on Ethereum. The blockchain has operated for over 10 years without a mainnet network outage.
He stated that speed and cost advantages of other chains are not relevant factors. Reliability matters most for institutional adoption.
Tokenization converts traditional assets into digital tokens on a blockchain. This process makes trading and settlement faster across global markets.
Money market funds will account for $750 billion of the projected $2 trillion market. Tokenized listed equities will also reach $750 billion.
Tokenized funds will make up $250 billion of the total. Private equity, commodities, corporate debt, and real estate will comprise the remaining $250 billion.
The stablecoin market is expected to grow in parallel with tokenized assets. Kendrick’s projections show similar timelines and market sizes for both segments.
Regulatory Framework Supports Growth
The U.S. GENIUS Act became law in July 2025. This legislation established clear rules for stablecoins.
The act accelerated adoption across retail and institutional markets. Regulatory clarity helps legitimize asset tokenization and decentralized trading.
The Digital Asset Market Clarity Act could pass by late 2025 or early 2026. This legislation would further support the growth of tokenized assets.
Regulators like the SEC and CFTC may provide clarity even without new legislation. Their consultation period ends in mid-2026.
Kendrick identified one main risk to the forecast. If regulatory clarity fails to materialize before the November 2026 midterm elections, growth could slow.
AlphaLadder Finance CEO Eddie Hui-Bon-Hoa compared tokenization growth to stablecoin adoption. He told TheStreet that tokenized assets will follow the same growth pattern.
Tokenized assets can be withdrawn or redeployed instantly. They can also serve as collateral for additional financial opportunities.
Hui-Bon-Hoa explained that stablecoins represent the simplest form of tokenization. The next phase involves tokenized bonds, funds, and equities.
Platforms like Kraken and Robinhood have tested tokenized stock offerings. These experiments raise questions about shareholder rights and ownership structures.
Kendrick said decentralized finance can disrupt traditional finance through lending and real-world assets. Trading tokenized assets on decentralized exchanges could challenge stock exchanges.
