2026-01-30 16:11
This report, jointly released by DigiFT and CoinFound, focuses on the key drivers of RWA development by 2026. It indicates that RWA is transitioning from “tokenizable” to “scalable distribution and utilization.” A macro interest rate reduction cycle, liquidity reallocation, and the maturation of compliant distribution channels will collectively drive capital expansion from money markets into assets such as gold and other commodities, private credit, equities, and real estate. The next phase of competition will center not on the assets themselves, but on compliant structures, liquidity pathways, and on-chain composability. These elements will determine which RWAs can truly enter the mainstream financial system.
——The Structural Shift from Asset Tokenization to Financial Infrastructure
2025 marks the transition of real-world assets (RWA) from the “pilot phase” into the early institutional-scale adoption stage. Tokenized asset types expand beyond money market funds and private credit to include commodities, equities, funds, and structured products. On-chain RWA TVL continues to grow, with the market beginning to form clear product structures and distribution pathways. By 2026, the industry's focus shifts from “can it be tokenized?” to “can it be scaled, distributed, utilized, and integrated into the financial system?”
This report analyzes three core dimensions—macro environment, liquidity structure, and market access pathways—to systematically outline the structural conditions enabling RWA's next phase of growth.
I. Macro Level: Interest Rate Cycle Shifts Reshape Asset Allocation Logic
As the U.S. enters a rate-cutting cycle, the risk-free yield benchmark gradually declines. The appeal of short-term Treasury bonds and money market funds diminishes, prompting capital to seek asset portfolios that deliver yield + diversification + inflation resistance.
This shift impacts not only traditional financial markets but also propagates to the on-chain ecosystem:
Gold and precious metals reclaim their status as core inflation hedges
Demand for credit assets and private lending is rising
Bitcoin is regaining support from the “digital gold” narrative
On-chain asset allocation is converging with traditional financial asset allocation logic
The value of Real-World Assets (RWA) is shifting from “technological innovation” toward its role as an asset allocation tool.
II. Liquidity Dimension: Shifting from “Issuance Logic” to “Distribution Logic”
By 2026, the core of RWA will no longer be asset tokenization itself, but rather:
Who can provide sustainable liquidity structures + compliant distribution capabilities + secondary transfer mechanisms
The report indicates two distinct differentiation paths emerging among tokenization platforms:
Single-asset specialized platforms (e.g., government bonds, credit, gold)
Multi-asset distribution platforms (covering funds, commodities, equities, structured products)
Projects with genuine scaling potential must simultaneously address three critical elements:
Compliant custody structures + Composable design + Secondary market liquidity pathways.
The next phase of tokenization competition will fundamentally be about infrastructure, not product quantity.
III. Structural Opportunities in Key Asset Tracks
The report identifies the most breakthrough-ready RWA directions for 2026:
1. Precious Metals RWA (Evolving from “Gold-Centric” to “Multi-Metal Structures”)
Gold remains the core anchor asset, but silver, platinum, palladium, and other precious metals offer tokenization expansion potential, forming new “multi-precious-metal on-chain asset pools.”
2. Tokenized Stocks and Private Equity
Tokenized stocks are transitioning from price-anchored models (xStocks, economic exposure models) toward compliant structured pathways; private equity tokenization is identified as the next key breakthrough area, with core value in unlocking liquidity and expanding access.
3. Real Estate RWA
The core significance of tokenized real estate lies not in “replacing property rights,” but in providing fractionalized, cross-border, and transferable investment channels.
4. Hedge Fund and Structured Strategy Tokenization
High-yield strategy tokenization forms a complementary product layer, catering to high-risk-preference investors' allocation needs with target return ranges reaching 15%–30%.
IV. Critical Variables: Can RWA Truly Integrate into On-Chain Ecosystems?
The report presents a core assessment:
The decisive factor for RWA growth in 2026 will not be “asset supply,” but on-chain integration capabilities.
Key conditions for achieving scale include:
Clear market structure regulatory frameworks (e.g., CLARITY Act)
Compliant custody and distribution structures for security tokens
Composable design between DeFi and RWA
Compliant secondary market liquidity pathways
Cross-chain settlement and institutional-grade custody infrastructure
The ultimate form of RWA is not merely “asset tokenization,” but becoming a foundational component of on-chain financial systems.
Conclusion: The Core Proposition for 2026
If 2025 was the “launch year” for RWA,
then 2026 will be the “year of structured expansion”:
From product logic → infrastructure logic
From tokenization → financial integration
From asset tokenization → asset allocation tools
From single-point breakthroughs → systematic scaling
RWA is evolving from a “crypto narrative” into foundational infrastructure modules for the next-generation financial system.
DigiFT Research: RWA 2026 Outlook - Macro · Liquidity · Market Access
Full report links:
CoinFound: https://app.coinfound.org/zh/research/5
DigiFT Research: https://insights.digift.io/2026-rwa-outlook-macro-liquidity-and-distribution/
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