Blockchain Could Host $4 Trillion Tokenized Assets by 2028

Tokenization is reaching a new level. Standard Chartered predicts nearly $4 trillion worth of assets could land on the blockchain by 2028, driven by stablecoins and real-world assets. A forecast that speaks as much about the future of crypto as it does about the deep transformation of traditional finance.

Traditional finance is gradually shifting to the blockchain

On May 18, Standard Chartered published a projection that could mark a turning point for the crypto market. The British bank estimates that $4 trillion worth of tokenized assets will circulate on the blockchain by the end of 2028.

According to Geoff Kendrick, global head of digital assets research, this market will be divided between stablecoins and tokenized real-world assets, also called RWA.

Behind this estimate lies a much deeper transformation. Banks, investment funds, and large corporations are now seeking to use blockchain to modernize existing financial infrastructures. The promise is simple: reduce costs, accelerate settlements, and improve capital management.

Tokenization notably allows traditional assets — bonds, stocks, money market funds, or commodities — to be represented as digital tokens exchangeable 24/7. Unlike conventional financial systems, these assets can move instantly and be used simultaneously as collateral, yield source, or liquidity reserve.

It is precisely this “composability” that attracts Wall Street. The same tokenized position can generate interest in DeFi while serving as collateral for a loan. This model greatly improves capital efficiency compared to traditional finance.

The movement is already accelerating. BlackRock is preparing, for example, a reserve fund for stablecoins as well as an on-chain equity class linked to a $6.9 billion money market fund on Ethereum. The asset manager is sending a clear signal: tokenization is now strategic for major financial institutions.

Stablecoins, DeFi, and RWA, the new pillars of digital finance

For Standard Chartered, DeFi protocols could become the real native infrastructures of this new tokenized economy. The bank even compares these protocols to exchanges, clearinghouses, or automated lending services operating directly on the blockchain.

The example cited by the bank illustrates well this convergence between traditional finance and decentralized finance. Coinbase already collaborates with the Morpho protocol to offer bitcoin loans. Coinbase manages the interface and asset custody, while Morpho provides the DeFi logic and liquidity pools. This product would already represent about $1.75 billion in loans.

Stablecoins play a central role here. They are gradually becoming the fuel of tokenized markets. Their growth supports not only crypto exchanges but also institutional settlements, cross-border payments, and collateral operations.

Other players confirm this trend. Binance Research estimates tokenized assets could reach $1.6 trillion by 2030. Chainalysis indicates that RWAs already approach $30 billion in assets under management, with growth close to 100% year-over-year.

But this revolution will probably not be entirely decentralized. Large institutions currently favor hybrid and permissioned models. BlackRock, for example, maintains strict controls over authorized wallets and asset transfers. Blockchain thus becomes a modern technological layer without completely eliminating traditional compliance rules.

Tokenized finance is no longer a distant horizon: it is an open project. Banks, decentralized protocols, and asset managers are building together the rails of a new system. The battle to dominate tomorrow’s financial infrastructure has already begun.