Real World Asset Tokenization: Which Crypto Projects Are Reshaping Finance in 2024?

The transformation of physical assets into blockchain-based digital tokens has fundamentally altered how we think about investment accessibility and market liquidity. Often termed as real world asset tokenization or RWA, this technological shift has attracted unprecedented institutional attention. As of March 2024, the aggregate market valuation for RWA-focused cryptocurrencies exceeded $8.4 billion according to Coingecko data, signaling robust sector maturation. The entry of BlackRock—managing over $10 trillion in global assets—through its tokenized BUIDL fund on Ethereum represents a watershed moment for mainstream finance’s embrace of blockchain infrastructure.

The Fundamental Value Proposition of Tokenizing Real-World Assets

When traditional assets migrate to blockchain networks, several transformative outcomes emerge. Real world asset tokenization fundamentally restructures investment accessibility by converting illiquid holdings into tradeable digital instruments. This approach enables fractional ownership of previously inaccessible asset classes, democratizes portfolio diversification across geographies, and creates transparent, immutable settlement records through distributed ledger technology.

Primary advantages include:

• Breaking Liquidity Barriers: Traditionally locked assets—such as real estate, bonds, and commodity reserves—can now be subdivided and traded instantaneously on blockchain platforms
• Expanding Market Access: Investors gain exposure to global asset classes previously restricted by geography or capital requirements
• Operational Efficiency: Smart contracts execute settlement in minutes rather than days, reducing intermediaries and associated costs
• DeFi Composability: Tokenized real-world assets integrate seamlessly with decentralized finance protocols, unlocking novel yield strategies and financial primitives
• Immutable Record-Keeping: Blockchain architecture ensures transparent, tamper-resistant ownership documentation

Leading Projects Pioneering Real World Asset Tokenization

Ondo Finance: Bridging Institutional Treasury Products to DeFi

Ondo Finance occupies a critical position within the real world asset tokenization ecosystem, having developed OUSG—the first tokenized U.S. Treasury security accessible to retail traders. This innovation allows DeFi participants to utilize government-backed securities as collateral for lending protocols through Flux Finance.

The ONDO governance token empowers holders to shape protocol development through DAO voting mechanisms. A pivotal development occurred in March 2024 when Ondo orchestrated the migration of $95 million in OUSG holdings into BlackRock’s institutional BUIDL fund, representing the first instance of a crypto-native protocol leveraging traditional asset management infrastructure. This arrangement dramatically enhances OUSG’s utility as an on-chain store of value while demonstrating interoperability between established finance and decentralized systems. Ondo’s recent integrations with Sui and Aptos networks signal ambitions to expand RWA tokenization across multi-chain ecosystems.

Mantra: RWA Infrastructure for Emerging Markets

Mantra operates as a Layer 1 blockchain specifically architected for real world asset tokenization, targeting underserved markets in the Middle East and Asia. Following a $11 million funding round led by Shorooq Partners in 2023, the platform has prioritized building regulatory-compliant infrastructure for developers launching RWA-centric protocols.

Current MANTRA (OM) Metrics:

• Trading Price: $0.07
• 24-Hour Movement: -4.59%
• Market Capitalization: $83.58M
• Daily Trading Volume: $693.66K

The OM token functions as both governance and staking instrument, enabling network participants to generate passive yields while influencing protocol decisions. Mantra’s strategic positioning addresses the scalability constraints historically limiting RWA adoption, while its geographic focus expands tokenization benefits to populations with limited traditional financial access.

Polymesh: Enterprise-Grade Security Token Infrastructure

Polymesh distinguishes itself through specialized architecture designed explicitly for securities tokenization. This permissioned Layer 1 blockchain resolves critical challenges around regulatory compliance, identity verification, settlement finality, and data confidentiality—prerequisites for institutional adoption.

Current POLYMESH (POLYX) Metrics:

• Trading Price: $0.05
• 24-Hour Movement: -5.01%
• Market Capitalization: $60.64M
• Daily Trading Volume: $95.06K

The native POLYX token underwrites network operations including transaction settlement, governance voting, and security token creation. Its tokenomics employ an algorithmic supply schedule approaching an asymptotic ceiling, balancing incentive alignment with inflation management. Polymesh’s hybrid architecture merges private network security guarantees with public chain transparency, establishing institutional confidence in on-chain asset custody.

OriginTrail: Connecting Supply Chain Assets Through Decentralized Knowledge Graphs

OriginTrail employs distributed ledger technology paired with knowledge graph infrastructure to create verifiable, AI-compatible asset records across supply chains, healthcare logistics, construction procurement, and digital environments. This technical approach transforms unstructured asset data into trustworthy, discoverable information assets.

Current ORIGINTRAIL (TRAC) Metrics:

• Trading Price: $0.40
• 24-Hour Movement: -2.96%
• Market Capitalization: $178.33M
• Daily Trading Volume: $18.28K
• Circulating Supply: 447.27M / 500M total

The TRAC token, launched in 2018 as an ERC-20 standard implementation, powers all DKG operations including asset publication, collateral provisioning, and delegated staking rewards. Its multi-chain deployment ensures accessibility across heterogeneous blockchain ecosystems, enhancing interoperability for enterprise and supply chain participants seeking real world asset tokenization solutions.

Pendle: Yield Tokenization and RWA Integration

Pendle revolutionizes yield management by fragmenting yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT), enabling sophisticated hedging and speculation strategies. Recent integrations with MakerDAO’s Boosted Dai Savings and Flux Finance’s fUSDC expanded Pendle into authentic real world asset tokenization by providing on-chain access to Treasury bond yields and institutional lending products.

Current PENDLE Metrics:

• Trading Price: $1.79
• 24-Hour Movement: +2.86%
• Market Capitalization: $294.92M
• Daily Trading Volume: $510.61K

This dual-market architecture positions Pendle as a critical infrastructure layer for institutional hedging, particularly as tokenized TradFi instruments proliferate across blockchain networks.

TokenFi: No-Code RWA Deployment Platform

TokenFi democratizes real world asset tokenization through a code-free interface enabling any entity to launch compliant ERC-20 and BEP-20 tokens. The platform integrates generative AI for NFT creation, institutional connectors, and an integrated smart contract auditor—collectively reducing barriers to RWA market participation.

Current TOKENFI (TOKEN) Metrics:

• Trading Price: $0.00
• 24-Hour Movement: -1.51%
• Market Capitalization: $7.56M
• Daily Trading Volume: $256.59K

Given McKinsey projections estimating the RWA market reaching $16 trillion by 2030, TokenFi’s accessibility-focused architecture positions it to capture substantial growth from non-technical issuers seeking blockchain infrastructure.

Securitize and Institutional Adoption

Securitize transformed the securities tokenization landscape since its 2017 founding, achieving remarkable scale—by 2022, Securitize Markets ranked among the top 10 U.S. stock transfer agents, servicing 1.2+ million investor accounts across 3,000+ clients. BlackRock’s strategic investment and board-level appointment signal institutional confidence in Securitize’s compliance framework and technological maturity.

Additional Ecosystem Participants

Untangled Finance recently deployed on the Celo network following a $13.5 million funding round in October 2023, focusing on tokenizing private credit markets for broader investor accessibility.

Swarm Markets (SMT) maintains a $5.4 million TVL as of March 2024, emphasizing regulatory compliance while bridging traditional finance and DeFi through real world asset tokenization. Its July 2023 partnership with Mattereum expanded compliant on-chain securitization capabilities.

MakerDAO (MKR), Ethereum’s foundational DeFi protocol, increasingly incorporates real world assets into its ecosystem. As of March 2024, RWAs comprise 29.5% of MakerDAO’s $6.6 billion total value locked, with $2.06 billion directly allocated to Treasury bills and institutional credit products—demonstrating enterprise-grade protocol maturation.

Market Trajectory and Future Implications

Real world asset tokenization no longer represents speculative infrastructure—it has evolved into tangible financial rails supporting billions in institutional capital. Converging trends including regulatory clarity, institutional adoption acceleration, improved DeFi composability, and oracle advancement suggest exponential ecosystem expansion through 2025 and beyond. The projects profiled above represent not competitors but complementary infrastructure layers collectively reconstructing global financial markets.