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Tokenization of real-world assets (RWAs) seemed like a far-fetched idea a few years ago. Open markets for housing, gold, and private equity, all based on public blockchains, seemed impossible to tokenize. Problems such as disoriented legislation, faulty roadmaps, and a lack of institutional confidence prevented it from growing.
In 2025, RWAs are integrated into the financial infrastructure, rather than only as experimental programs. Not in splashy headlines, but in regulatory filings, institutional collaborations, and backend systems where compliance and capital intersect.
The platforms driving this shift aren’t innovating finance; they’re interpreting it. They are introducing classic products like treasuries, luxury real estate, and private equity to regulated blockchains, where liquidity, auditability, and composability are built-in characteristics rather than afterthoughts.
To understand where tokenized finance is truly taking off, look at the quiet builders who are scaling assets rather than speculating.
The Institutional Core Is Quietly On-Chain
Securitize has established itself as a key player in the institutional RWA movement. With three licenses—broker-dealer, transfer agent, and ATS—it is the foundation for significant fund tokenizations. One example is Hamilton Lane’s $5.6 billion Secondary Fund VI, which was partially launched on-chain via a Polygon-based feeder fund. The minimum investment has fallen from $5 million to $20,000. The innovation was not in the technology but in the compliance integrated into distribution.
This isn’t an outlier. Securitize also supports BlackRock’s tokenized funds and allows for regulated secondary market trading. In a field typically fascinated with decentralization, Securitize’s integration with established norms provides it with longevity.
Tokenized Real Estate on a Global Scale
A stunning illustration of scale comes from Dubai, where MultiBank Group and real estate developer MAG announced a $3 billion luxury real estate tokenization transaction. Properties like The Ritz-Carlton Residences are now represented on-chain through MultiBank.io, which is powered by Mavryk’s infrastructure for compliance issuance and lifecycle management.
The effort is distinguished not only by its asset size but also by MultiBank’s VARA license in Dubai and its compliance with 17 worldwide regulatory regimes. This isn’t an experiment, with a daily trading volume of $15.6 billion and an AUM of $583 million.
Gold, Carbon, and the Future of RWA Finance.
While many RWA systems focus on real estate or money, Plume Network is developing infrastructure for the next generation of asset classes, including commodities and ESG assets. Plume secured $20 million in Series A investment in 2024 and has over 180 projects on its platform. It now supports XAUm, a gold-backed coin created by Matrixdock and stored in Brink’s vaults.
XAUm is more than simply a gold proxy; it’s programmable, interchangeable collateral that can be utilized for lending, payments, and settlements. Plume’s RWA-native chain is created with institutions in mind, utilizing Fireblocks MPC custody and optimized for carbon credit flows, ESG-linked bonds, and sustainable commodities markets.
Proof of Work Meets Institutional Finance
Quai Network provides a different perspective, integrating public blockchain architecture with institutional integration. The uncommon «Proof-of-Entropy-Minima» consensus allows for scalable parallel execution. Quai, in collaboration with Frictionless Markets, is introducing tokenized Treasuries and MMFs to the blockchain, providing institutions with compliant access to stable return instruments.
Unique to Quai, energy derivatives and Liquid Mining Tokens provide a glimpse into the future of energy-backed digital money. With MMFs poised to anchor the ecosystem’s yield layer, Quai is developing a distinct combination of public chain transparency and institutional usefulness.
Real Estate with ESG Incentives
T-RIZE, headquartered in Montreal, is transforming the housing sector in North America. In 2024, it tokenized a $300 million housing project in Quebec, with 960 units backed by ERC-3643-compliant securities. The aim is liquidity, quicker capital deployment, and ESG-related incentives.
T-RIZE connects blockchain-native capabilities to traditional real estate financing, with MOUs totaling $2 billion in pipeline projects and secondary trading assistance from SEC-registered ATS providers such as Texture Capital. Its use of tokenized carbon credits provides a level of sustainability that is uncommon in property construction.
From Narrative to Numbers
What distinguishes these platforms in 2025 isn’t wild statements but actual traction. Millions of transactions. Billions of tokenized assets. Licensed issuance. Secondary trading. Custody relationships. The conventional financial language has blended with Web3 tooling.
Tokenizing the asset is no longer a difficult task. The true challenge—and opportunity—is to integrate it into the global financial system. These platforms are no longer considered early adopters. They are early infrastructure.
