DRW and BlackRock Executives Predict All Frequent Trading Will Move Onchain Within 5 Years

**Tokenized real-world assets (RWAs) have reached a $30 billion market**, representing nearly 4x growth over the past two years according to a16z's State of Crypto 2025 report. **Key market segments driving growth:** - Private credit dominates with $15.5B in active loans - Tokenized Treasuries account for $7.4B, up 500% year-over-year - Gold tokenization shows $2.1B in proven adoption **Ondo Finance has tokenized over $1.8 billion** in RWAs, establishing itself as a major player in the space. While the total RWA market appears large at $300B, **92% consists of stablecoins**. Non-stablecoin RWAs represent just $25B - still only 0.01% of global financial assets despite 2x annual growth. **The sector faces real challenges:** - Most projects rely on trust assumptions they claim to eliminate - Regulatory frameworks remain unclear for public tokenized securities - Data and oracle infrastructure gaps persist However, **genuine adoption is concentrated** in three proven categories: private credit offering 9.7% yields, programmable Treasury yields serving as DeFi collateral, and 24/7 tradeable gold. RWAs are evolving into crypto's yield layer through reliable infrastructure rather than speculative tokenization of everything.

**PancakeSwap joins Global Markets Alliance** to standardize tokenized stocks and ETFs on blockchain. The leading BNB Chain DEX becomes the **30+ member** in the coalition working on bringing traditional securities onchain. - PancakeSwap processes billions in daily trading volume - Alliance focuses on aligning standards for tokenized assets - Growing industry collaboration for traditional finance integration

**Massive Traditional Finance Opportunity** U.S. capital markets represent enormous value: - $28 trillion in U.S. Treasuries - $69 trillion in U.S. stocks - $13 trillion in U.S. ETFs **Ondo's Blockchain Bridge** Ondo Finance positions itself as the pathway to bring these traditional assets onchain. The company previously pioneered tokenized U.S. Treasuries and now aims to expand access to stocks. **Market Context** With over $110 trillion in combined traditional assets, only a small fraction currently exists in tokenized form on blockchain networks.

**Ondo Finance submitted an open letter to the SEC** opposing Nasdaq's proposed rule changes for tokenized securities trading. The company argues the proposal should be **halted until critical information becomes public**, specifically regarding how the Depository Trust Company (DTC) will handle tokenized settlement. **Key concerns:** - Lack of transparency prevents proper assessment by regulators and market participants - New market rules require clear, public information for all stakeholders - Current proposal lacks sufficient detail for informed decision-making Ondo emphasizes that **tokenization represents the future of financial infrastructure** and should advance through open collaboration and transparent standards. The company calls for the SEC to gather more comprehensive information before finalizing any decisions on tokenized securities trading rules. [Read the full letter](https://ondo.finance/blog/call-for-transparency-sec)