Tokenization Isn’t a Theory Anymore — It’s Happening Right Now
Tokenization is quickly becoming the new foundation for how finance, ownership, and investing could work in the real world.
Big players are already making moves. From BlackRock to bonds and real estate giants in Dubai, the most powerful names in finance aren’t waiting to ask if they should tokenize real-world assets — they’ve already started doing it.
Let’s start with the basics — what’s going on?
Just last week, BlackRock filed to create a blockchain-based version of its $150 billion Treasury Trust fund. Instead of tracking ownership on some old back-office system, investors will soon be able to see their holdings on a secure, transparent ledger.
But the biggest headline came from Dubai: MultiBank Group signed a massive $3 billion tokenization deal. It’s being called the biggest RWA (real-world asset) tokenization project to date.
So what does this all mean?
It means tokenization is no longer theoretical. It’s real. It’s scaling. And it’s getting global.
Why now?
The timing isn’t a coincidence. First, the technology has matured. Blockchains like Ethereum have become more secure, scalable, and efficient. Wallets are easier to use. And developer tooling has improved.
Second, regulations — at least in some parts of the world — are finally starting to catch up. With Donald Trump back in the White House and taking a more crypto-friendly stance, U.S. agencies have softened their tone. The SEC has paused or dropped over a dozen enforcement cases, and even the DOJ shut down its crypto enforcement unit.
All of this is giving companies the green light to innovate again.
In fact, the SEC itself is getting involved.
On May 12, the SEC is hosting a public roundtable called “Tokenization — Moving Assets Onchain: Where TradFi and DeFi Meet.” According to Commissioner Hester Peirce, who’s leading the initiative, the agency wants to figure out how to support the shift toward tokenized finance.
“Tokenization is a technological development that could substantially change many aspects of our financial markets,” she said. The event will bring together crypto projects, regulators, and Wall Street firms to discuss how tokenization should be handled — and whether existing rules need to be updated.
It’s a sign that U.S. regulators are taking tokenization seriously. They’re not dismissing it. They’re asking: how do we make this work?
Ethereum still dominates.
Ethereum is still the hub for tokenization, hosting over $4.9 billion in tokenized U.S. Treasuries. That’s more than 75% of the entire tokenized government bond market, which currently sits at around $6.5 billion.
How big can this get?
Estimates vary. Some say the tokenized RWA market could hit $4 trillion by 2030. Others say it could go as high as $10 trillion. A few believe it could reach 30% of the global financial system, which would mean more than $70 trillion worth of assets living onchain.
Even if we take the lowest estimate, we’re talking about a 50x jump from today’s levels.
What’s still in the way?
There are still hurdles — and they’re not small. Interoperability between blockchains is a mess. Custody rules are confusing. Many institutions are nervous about how to manage compliance and privacy. And not every country is on the same page yet when it comes to regulation.
But hybrid models — which mix the privacy of private blockchains with the transparency of public ones — are starting to gain traction. Think of them as a “best of both worlds” approach for institutions that want security but also need flexibility.
And yes — TokenFi is part of this story too.
While all these headlines feature billion-dollar funds and big institutions, TokenFi are working on something equally important: making tokenization simple and accessible for everyone.
With its upcoming RWA Tokenization Module, TokenFi is building tools to let anyone tokenize real-world assets — no coding or deep legal knowledge required.
