Hong Kong, July 16, 2025 – The Hong Kong International New Economic Research Institute(INERI) today released its latest research report, "Unlocking Trillions:How Tokenized RWAs Are Rewiring Global Financial." The study provides an in-depth analysis of the rapid development of Real World Asset (RWA)tokenization against the backdrop of Web 3.0, revealing market dynamics, regulatory innovations, and cross-industry impacts through data modeling. Ledby a multidisciplinary team headed by INERI researchers Spike Chan and Shen Zidong, the report identifies RWA tokenization as a pivotal force for unleashing global financial potential, with disruptive effects across sectors including real estate and carbon markets. The research findings have been published on INERI’s official website, providing a strategic roadmap for policy makers, investment institutions, and enterprises. Readers may access the full report via Appendix I at the end of this release.

Core Market Dynamics and Growth Drivers

The report reveals that the 260% surge in on-chain RWA value to $24 billion in 2025 is primarily driven by tokenized private credit (58%) and U.S. Treasuries (34%). Blockchain infrastructure upgrades serve as key catalysts: Zero-Knowledge Proof(ZKPs) technology enables privacy-compliant auditing, while cross-chain interoperability solutions (such as J.P. Morgan and Chainlink’s atomic settlement pilot) significantly enhance efficiency. On Ethereum Layer 2 networks like zkSync, transaction costs have been reduced by 90%, enabling 24/7real-time settlements and substantially improving market efficiency and accessibility.

Global regulatory innovation is accelerating simultaneously: Singapore’s MonetaryAuthority (MAS) established a bond and fund tokenization framework through its "Project Guardian" initiative; Hong Kong Monetary Authority’s (HKMA) "Project Ensemble" sandbox promotes cross-border tokenized deposits and central bank digital currency applications; the U.S. "GENIUS Act" establishes federal stablecoin regulations, while the EU’s "Markets in Crypto-Assets Regulation" (MiCA) creates pan-European standards. These regulatory breakthroughs have attracted institutions like BlackRock and Franklin Templeton, whose public chain tokenized funds now exceed $4 billion.

Industry Disruption: From Real Estate to Sustainable Economies

RWA tokenization is triggering transformation across multiple sectors by lowering investment thresholds through fractional ownership:

Real Estate: The tokenized market has exceeded 30 billion (over half of the current RWA market ),with DubaiL and Department (DLD) launching the MiddleEast’s first property deed tokenization pilot. DLD predicts that by 2033, tokenized real estate will constitute 716 billion in value). INERI researcher Chloe Wong notes in the report: "Fractional ownership enables retail investors to participate in high-value asset investments, accelerating price discovery and enhancing market resilience."

Carbon Markets: China’s national carbon emission trading system covers 4.5 billion tonnes of CO2 equivalent annually. AirCarbon Exchange (ACX) ensures transparent carbon credit transactions and prevents double-counting through blockchain technology.

Commodities& Energy: Gold tokens like PAXG reduce friction in traditional commodity trading, while energy tokenization (e.g., peer-to-peer trading in virtual powerplants) is driving green energy investment. INERI researcher Deng Keke states:"Tokenized green assets attract diversified capital, accelerating renewable energy transition and strengthening grid resilience."

Short-termand Long-term Market Projections

The report proposes a dual-track forecasting model:

Short-term(end of 2025): The RWA market size (excluding stablecoins) is projected to growfrom 50billion to 500 billion, driven by institutional pilots and regulatory developments.

Long-term(2030-2034): Conservative estimates (McKinsey) project a tokenized RWA market of 1.9−4 trillion by 2030, while optimistic scenarios (Standard Chartered) foresee $30.1 trillion. The convergence of Artificial Intelligence (AI) and Web3.0 will catalyze new dynamic asset management models.

Web 3.0 technological evolution serves as the foundational support. The report elaborates on the internet’s evolutionary path from Web 1.0 (read-only) and Web2.0 (read-write) to Web 3.0 (read-write-own), whose decentralized nature creates the basis for decentralized finance (DeFi).

McKinsey’sasset tokenization potential stratification model (by market capitalization and adoption drivers) indicates that cash deposits, funds, and bonds will become the first wave of scalable asset applications.

Action Initiatives and Access to Findings

INERI researchers Jie Lyu and Liu Yongyue conclude in the report: "Tokenization is bridging the gap between physical and digital economies, making collaborative innovation among governments, institutions, and technology providers crucial." The report calls for establishing cross-jurisdictional regulatory dialogue mechanisms and developing trusted on-chain asset certification standards (such as China’s "Trusted On-Chain Technical Specifications for Physical Assets" requiring IoT-blockchain integrated verification).

The complete report, including case studies, data visualization models, and policy recommendations, is now available at INERI’s official website (http://www.ineri.net/). The Institute has simultaneously opened industry collaboration channels to advance sustainable tokenization ecosystem development.

Appendix I:

Unlocking Trillions_Simplified version.pdf