Tokenization is changing dimensions. Standard Chartered predicts that nearly $4 trillion in assets could land on blockchain by 2028, driven by stablecoins and real-world assets. A forecast that says as much about the future of crypto as it does about the in-depth transformation of traditional finance.
In brief
- Standard Chartered predicts $4 trillion in tokenized assets on blockchain by 2028.
- Stablecoins and tokenized real assets would each make up about half the market.
- DeFi protocols could become the central infrastructure of this new digital finance.
Traditional finance is gradually moving towards blockchain
Standard Chartered published a projection on May 18 that could mark a turning point for the crypto market. The British bank estimates that $4 trillion in 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 known as RWAs.
Behind this estimate lies a much deeper transformation. Banks, investment funds and large companies are now looking to use blockchain to modernize existing financial infrastructures. The promise is simple: reduce costs, accelerate settlements and improve capital management.
Tokenization makes it possible in particular to represent traditional assets, bonds, stocks, money market funds or raw materials, in the form of digital tokens exchangeable 24 hours a day. Unlike traditional financial systems, these assets can circulate instantly and be used simultaneously as collateral, a source of return or a 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, for example, preparing a reserve fund for stablecoins as well as an onchain share class linked to a $6.9 billion monetary fund on Ethereum. The asset manager is sending a clear signal: tokenization is now becoming strategic for large 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 clearly illustrates this convergence between traditional finance and decentralized finance. Coinbase already collaborates with the Morpho protocol to offer bitcoin loans. Coinbase manages the interface and custody of the assets, while Morpho provides the DeFi logic and liquidity pools. This product would already represent approximately $1.75 billion in loans.
Stablecoins play a central role here. They are gradually becoming the fuel for tokenized markets. Their growth supports not only crypto exchanges, but also institutional settlements, cross-border payments and collateral operations.
Other actors confirm this trend. Binance Research estimates that tokenized assets could reach $1.6 trillion by 2030. For its part, Chainalysis indicates that RWAs are already approaching $30 billion in assets under management, with growth close to 100% year-on-year.
But this revolution will probably not be completely decentralized. Large institutions currently favor hybrid and permissioned models. BlackRock, for example, maintains strict controls over permitted wallets and asset transfers. Blockchain thus becomes a modern technological layer, without completely removing traditional compliance rules.
Tokenized finance is no longer a horizon: it is an open project. Banks, decentralized protocols and asset managers are building the rails of a new system together. The battle to dominate tomorrow's financial infrastructure has already begun.
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