TREE NEWS reports: Tokenized real-world assets on public blockchains reached $37.29 billion (excluding stablecoins) as of August 3, with treasury and money market products at $16.16 billion. As assets move on-chain, industry focus shifts from what can be tokenized to whether holding a token guarantees ownership of the underlying asset. Matrixdock’s Eva Meng highlights settlement as key, citing a case where 32.148 XAUm was burned for a 1 kg LBMA gold bar within T+3, demonstrating the path from token to physical delivery.
Tokenized RWA market hits $37.29B as ownership questions emerge
AI take
The milestone figure masks a deeper structural question: tokenization is moving from issuance to the enforceability of redemption. The XAUm example underscores that settlement mechanics, not just token liquidity, will determine whether tokenized RWAs are treated as true ownership vehicles or as claims with counterparty risk. As institutional participation grows, the legal and operational clarity of the burn-to-deliver process becomes the critical benchmark. Whether other asset classes can match this settlement rigor is the open question.
Generated by AI for reference only.
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