$8.3B real world assets now on-chain: Can tokenization make banks top crypto custodians?
Tokenization is driving a shift in finance, with banks like Goldman Sachs and BlackRock bringing $8.3B in real-world assets onto blockchain networks.Summary
The financial industry is witnessing a significant shift as major banks are increasingly adopting tokenization to bring real-world assets (RWAs) onto blockchain technology. What began as a defensive move towards digital assets is evolving into a broader infrastructure change, with institutions like Goldman Sachs, BNY Mellon, Citi, and BlackRock actively participating. Tokenized treasuries have already reached $8.3 billion, with broader RWAs ranging from $24 to $30 billion. This move isn't about speculative gains but operational efficiency – faster cash movement, reduced friction, and 24/7 settlement. The competition is now focused on who will custody the next $100 billion in digital assets and how these assets will integrate with traditional financial systems. Regulatory frameworks like MiCA in Europe and Project Guardian in the UK and Singapore are crucial for standardization, while the US faces hurdles with accounting treatment under SAB 121. Ultimately, tokenization has the potential to reshape the balance sheet structure and redefine custody fees, potentially reaching $300-600 million in annual revenue.
(Source：CryptoSlate)