Binance Research: On-chain tokenized assets have grown 589% since 2025 to over $31 billion

According to a Binance Research report, on-chain tokenized real-world assets (RWAs) have grown by 589% since the beginning of 2025, surpassing $31 billion in total value—up from $21.5 billion at the start of 2026. Bonds and money market funds contributed most significantly, growing by 83% and adding approximately $6.5 billion. Tokenized U.S. Treasuries, gold-backed assets, and tokenized public equities were also key growth drivers. Binance Research notes that tokenization is transitioning from experimental phases into an institutional competitive market, with institutional issuers leveraging blockchain to enhance settlement efficiency, asset transparency, and transferability. However, regulation remains the biggest current constraint; the next phase of growth will depend more heavily on improvements in liquidity, legal enforceability, and secondary market infrastructure.