Binance Research said in a report published on May 15 that tokenized assets could grow into a $1.6 trillion market by 2030 as financial institutions continue testing blockchain-based versions of traditional products. The report described tokenization as a developing bridge between conventional finance and blockchain infrastructure, with real-world assets moving gradually beyond early pilot programs.
Adoption remains concentrated in familiar products
At the current stage, U.S. Treasury-linked tokens remain the clearest area of adoption, accounting for roughly half of the real-world asset market by value. Tokenized commodities are still dominated by gold-backed products, with the segment valued at around $5.1 billion. Tokenized public equities have also expanded sharply, reaching about $1.5 billion after starting 2025 below $300 million. The trend suggests institutions are beginning with asset classes they already understand well.
Even so, tokenization is still small relative to the broader financial system. Binance Research estimated that penetration across five core asset classes — fixed income, equities, real estate, private credit, and commodities — stands at only about 0.01% of the total addressable market today. According to the report, even aggregate penetration below 1% by 2030 could still translate into a market measured in the trillions.
Public and permissioned networks are taking different roles
On the infrastructure side, different blockchain models are emerging for different use cases. The report named Ethereum and Provenance among networks supporting tokenized assets, while Canton Network was referenced as permissioned infrastructure used in Treasury repo activity and enterprise settlement. In this framework, public chains are linked more closely to distribution, while permissioned systems are associated with privacy, compliance, and counterparty control.
Regulation will shape the pace of expansion
Binance Research also highlighted regulation as a major factor in determining whether tokenized markets can move beyond institutional testing. Policymakers in the United States, Europe, Singapore, Hong Kong, and Australia are working on frameworks for digital securities and blockchain settlement. As those rules become clearer, financial firms are exploring tokenized money market funds, collateral products, and Treasury instruments more actively.
Overall, the report argues that tokenization could evolve into a broader market rail only if regulation, infrastructure, issuer participation, and investor demand advance together. For now, the market remains early, but the direction of travel is increasingly defined by practical deployment rather than isolated experimentation.