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</div></div><p>The tokenization of real-world assets (RWA) is attracting the attention of institutional investors, sparking discussions in the market about whether this signals a new era of financial innovation for RWAs or if it is merely a speculative bubble on the verge of bursting. Market analyst Michael Van de Poppe emphasizes that the real asset market is poised to reshape the global financial landscape in the coming years.</p><h3>The RWA Wave: Rapid Expansion of the Real Asset Tokenization Market</h3><p>Over the past year, the size of the real asset market has surged from $29.6 billion to $72.85 billion, a growth of 143%, reflecting a growing confidence among investors in tokenized assets. These assets connect traditional finance with the blockchain ecosystem, opening up new market opportunities.</p><p>Van de Poppe states that institutions are gradually recognizing the potential of tokenized assets. He remarks, "Interest from Web2 and traditional finance (TradFi) in the real asset market is increasing. Recently, the supply of stablecoins has significantly grown, and Web2 institutions are paying more attention to stablecoins. For example, PayPal launched a stablecoin on the SEI blockchain, and Robinhood partnered with Ondo to issue tokenized stocks, driving the rapid rise of the real asset market and becoming a crucial pillar of this cycle."</p><h3>Institutional Participation Accelerates the Tokenization Process</h3><p>The London Stock Exchange Group (LSEG) has launched a new Digital Market Infrastructure (DMI) platform, placing the entire lifecycle of private equity funds (which fall under real assets, not crypto-native assets, but traditional investment funds) onto a distributed ledger technology (DLT), achieving tokenization from issuance to settlement. Once private equity fund shares are digitized, they become easier for investors to distribute and trade.</p><p>This platform bridges traditional finance with emerging blockchain technologies, serving as a link between traditional finance (TradFi) and decentralized finance (DeFi) tokenization markets. As global market operators like LSEG create platforms for real assets, tokenization moves from startups to the financial core. In addition to tokenized government bonds and real estate, private equity and credit funds are now being digitized, further expanding the scope of real assets.</p><p>Real assets often face limitations due to insufficient liquidity, but tokenization combined with digital market infrastructure can improve this issue through secondary market trading. LSEG is trusted by banks, asset management companies, and regulatory bodies, and its participation will encourage more institutions to recognize the legitimacy of tokenized real assets. This could significantly increase the total value locked (TVL) in real asset protocols, which currently stands at $15.79 billion.</p><h3>Nasdaq's Market Signals</h3><p>In the U.S., Nasdaq is seeking to change regulations to allow for the listing of tokenized stocks. Van de Poppe believes this is a positive signal for the real asset market. He states, "Key participants like Nasdaq actively exploring tokenization opportunities show that the market values it, indicating that this field will expand significantly."</p><h3>Challenges and Opportunities</h3><p>Despite the increase in institutional participation, the tokenization of real assets remains in its early stages. The infrastructure is not yet mature, and the regulatory environment is unclear, limiting widespread adoption and scalability in the market. Van de Poppe points out, "We are still in the early stages of tokenization, but the rapid growth of participants shows strong interest. BlackRock CEO Larry Fink has called tokenization the future and has invested over $1 billion through the BUIDL project. This indicates that the market is far from saturated, and platform development is accelerating. Although it will take years, the outlook is optimistic."</p><p>The tokenization of real assets is rapidly transforming the financial landscape, with its long-term potential dependent on improving infrastructure and clarifying the regulatory environment.</p>

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</div></div><p>实物资产（RWA）代币化正吸引机构投资者目光，市场热议这是否预示RWA浪潮金融创新的新时代，抑或仅为即将破灭的投机泡沫。市场分析师MichaelVan de Poppe强调，实物资产市场有望在未来数年重塑全球金融格局。</p><p>&nbsp;</p><h3>RWA浪潮 实物资产代币化市场快速扩张</h3><p>&nbsp;</p><p>过去一年，实物资产市场规模从296亿美元激增至728.5亿美元，增长143%，反映投资者对代币化资产的信心持续增强。这些资产将传统金融与区块链生态系统相连，开启新的市场机遇。</p><p>&nbsp;</p><p>Van de Poppe 表示，机构正逐步认可代币化资产的潜力。他说：「Web2与传统金融（TradFi）对实物资产市场的兴趣日益浓厚。近期稳定币供应量显著增长，Web2机构对稳定币的关注增加。例如，PayPal在SEI区块链上推出稳定币，Robinhood与Ondo发行代币化股票，推动实物资产市场快速崛起，成为本周期的重要支柱。」</p><p>&nbsp;</p><h3>机构参与加速代币化进程</h3><p>&nbsp;</p><p>伦敦证券交易所集团（LSEG）推出全新的数位市场基础设施（DMI）平台，将私募基金（属实物资产范畴，非加密原生资产，而是传统投资基金）的全生命周期——从发行到结算——置于分散式帐本技术（DLT）上，实现代币化。私募基金份额数位化后，便于投资者分发与交易。</p><p>&nbsp;</p><p>该平台兼容传统金融与新兴区块链，成为传统金融（TradFi）与去中心化金融（DeFi）式代币化市场的桥梁。当LSEG这类全球市场运营商打造实物资产平台，代币化从新创公司走向金融核心。除了代币化的国债与房地产，私募股权及信贷基金现也数位化，进一步拓展实物资产范畴。</p><p>&nbsp;</p><p>实物资产常因流动性不足受限，但代币化结合数位市场基础设施可通过二级市场交易改善此问题。 LSEG深受银行、资产管理公司与监管机构信任，其参与将鼓励更多机构认可代币化实物资产的合法性。这亦可能大幅提升实物资产协议的总锁定价值（TVL），目前为157.9亿美元。</p><p>&nbsp;</p><h3>纳斯达克的市场信号</h3><p>&nbsp;</p><p>在美国，纳斯达克（Nasdaq）正寻求规则变更，允许上市代币化股票。 Van de Poppe认为，这对实物资产市场是一大正面讯号。他表示：「像Nasdaq这样的关键参与者积极探索代币化机遇，显示市场对其重视，预示该领域将显著扩张。」</p><p>&nbsp;</p><h3>挑战与机遇并存</h3><p>&nbsp;</p><p>尽管机构参与增加，实物资产代币化仍处于早期阶段。基础设施尚未成熟，监管环境不明朗，限制了市场的广泛采用与规模化。 Van de Poppe指出：「我们仍处于代币化的初级阶段，但参与方的快速增长显示出强烈兴趣。黑石集团（BlackRock）首席执行官LarryFink称代币化是未来，并通过BUIDL项目投资逾10亿美元。这表明市场远未饱和，平台建设正在加速，虽需数年，但前景乐观。」</p><p>&nbsp;</p><p>实物资产代币化正以惊人速度改变金融格局，其长期潜力取决于基础设施完善与监管环境的清晰化。</p>

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</div></div><p><a href="https://cftime.io/eth-accounts-for-rwa-tokenization/">實物資產</a>（RWA）代幣化正吸引機構投資者目光，市場熱議這是否預示RWA浪潮金融創新的新時代，抑或僅為即將破滅的投機泡沫。市場分析師MichaelVan de Poppe強調，實物資產市場有望在未來數年重塑全球金融格局。</p><p>&nbsp;</p><h3>RWA浪潮 實物資產代幣化市場快速擴張</h3><p>&nbsp;</p><p>過去一年，實物資產市場規模從296億美元激增至728.5億美元，增長143%，反映投資者對代幣化資產的信心持續增強。這些資產將傳統金融與區塊鏈生態系統相連，開啟新的市場機遇。</p><p>&nbsp;</p><p>Van de Poppe 表示，機構正逐步認可代幣化資產的潛力。他說：「Web2與傳統金融（TradFi）對實物資產市場的興趣日益濃厚。近期穩定幣供應量顯著增長，Web2機構對穩定幣的關注增加。例如，PayPal在SEI區塊鏈上推出穩定幣，Robinhood與Ondo發行代幣化股票，推動實物資產市場快速崛起，成為本週期的重要支柱。」</p><p>&nbsp;</p><h3>機構參與加速代幣化進程</h3><p>&nbsp;</p><p>倫敦證券交易所集團（LSEG）推出全新的<a href="https://www.lseg.com/en/media-centre/press-releases/2025/lseg-launches-digital-markets-infrastructure-platform-for-private-funds-and-facilitates-first-transaction">數位市場基礎設施（DMI）平台</a>，將私募基金（屬實物資產範疇，非加密原生資產，而是傳統投資基金）的全生命週期——從發行到結算——置於分散式帳本技術（DLT）上，實現代幣化。私募基金份額數位化後，便於投資者分發與交易。</p><p>&nbsp;</p><p>該平台兼容傳統金融與新興區塊鏈，成為傳統金融（TradFi）與去中心化金融（DeFi）式代幣化市場的橋樑。當LSEG這類全球市場運營商打造實物資產平台，代幣化從新創公司走向金融核心。除了代幣化的國債與房地產，私募股權及信貸基金現也數位化，進一步拓展實物資產範疇。</p><p>&nbsp;</p><p>實物資產常因流動性不足受限，但代幣化結合數位市場基礎設施可通過二級市場交易改善此問題。LSEG深受銀行、資產管理公司與監管機構信任，其參與將鼓勵更多機構認可代幣化實物資產的合法性。這亦可能大幅提升實物資產協議的總鎖定價值（TVL），目前為157.9億美元。</p><p>&nbsp;</p><h3>納斯達克的市場信號</h3><p>&nbsp;</p><p>在美國，納斯達克（Nasdaq）正尋求規則變更，允許上市代幣化股票。Van de Poppe認為，這對實物資產市場是一大正面訊號。他表示：「像Nasdaq這樣的關鍵參與者積極探索代幣化機遇，顯示市場對其重視，預示該領域將顯著擴張。」</p><p>&nbsp;</p><h3>挑戰與機遇並存</h3><p>&nbsp;</p><p>儘管機構參與增加，實物資產代幣化仍處於早期階段。基礎設施尚未成熟，監管環境不明朗，限制了市場的廣泛採用與規模化。Van de Poppe指出：「我們仍處於代幣化的初級階段，但參與方的快速增長顯示出強烈興趣。黑石集團（BlackRock）首席執行官LarryFink稱代幣化是未來，並通過BUIDL項目投資逾10億美元。這表明市場遠未飽和，平台建設正在加速，雖需數年，但前景樂觀。」</p><p>&nbsp;</p><p>實物資產代幣化正以驚人速度改變金融格局，其長期潛力取決於基礎設施完善與監管環境的清晰化。</p>

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