Yigit Taha OZTURK 
Tokenization has finally moved beyond years of theoretical discussion into real, large-scale implementation. Billion-dollar initiatives by BlackRock, Libre, and MultiBank show that this technology is carving out a lasting role in the financial system.
On April 30, BlackRock filed to launch a DLT-powered share class for its $150 billion Treasury Trust Fund. These shares will record investor ownership on the blockchain as a mirrored ledger.
That same day, Libre announced a plan to tokenize $500 million worth of Telegram debt through a new product called the Telegram Bond Fund (TBF). The fund will be available to accredited investors and can be used as on-chain collateral.
However, the biggest announcement of the week came from Dubai, where MultiBank Group signed a $3 billion tokenization deal with UAE-based real estate giant MAG and blockchain provider Mavryk. This is considered the largest RWA tokenization initiative to date.
Everything Is Lining Up for Tokenization
Eric Piscini, CEO of Hashgraph, told:
“The recent surge isn’t random. It’s happening because everything’s lining up: regulation is getting clearer, the tech is faster and scalable, and major players are actually doing it — BlackRock is tokenizing funds, Citi is exploring digital custody, and Franklin Templeton is tokenizing money markets on public blockchains.”
Institutions like Franklin Templeton, Citi, and BlackRock have already begun issuing tokenized financial products on public blockchain networks.
Marcin Kazmierczak, co-founder of RedStone, said this is proof that tokenization is no longer just theory — it’s being applied in practice by market leaders. As confidence grows, more firms are expected to join in and contribute to innovation and capital flow.
Trump’s Crypto Stance and Softer Regulation Spark Momentum
In the U.S., Donald Trump’s pro-crypto administration has greatly accelerated the pace of tokenization. Trump has promised to “make the U.S. the crypto capital of the world.”
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During the Biden era, the crypto industry faced an intense regulatory crackdown by the SEC and DOJ, causing many firms to withdraw from U.S. markets.
Since Trump’s victory, over a dozen enforcement actions have been paused or dropped. The DOJ also dissolved its dedicated crypto enforcement unit, signaling a softer, more favorable stance toward the sector.
Ethereum Still Dominates, But New Alternatives Are Rising
Ethereum remains the leading blockchain for RWA tokenization. According to RWA.xyz, Ethereum hosts over $4.9 billion in tokenized U.S. Treasuries, out of a total market size of $6.5 billion.
New chains are emerging with dedicated tokenization tools: Canton Network, Plume, and Ondo Chain are building ecosystems purpose-built for compliant digital asset issuance.
Expect Explosive Growth by 2030
Here’s what industry experts forecast:
- Piscini predicts 10% of global financial assets will be tokenized by 2030.
- Kazmierczak estimates the figure could reach 30%.
- STM.co projects the global RWA market will hit $30 to $50 trillion by decade’s end.
- A Tren Finance report says the current $185 billion market (including stablecoins) could grow 50x to $10 trillion.
The next five years could mark the golden era of tokenization.
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