According to PANews on June 29, citing a Redstone report, the market for tokenization of risk assets (RWA) surged from $5 billion in 2022 to over $24 billion by June 2025 (a rise of 380%), making it the second fastest-growing area in the cryptocurrency space after stablecoins. Industry forecasts suggest that by 2030 to 2034, between 10% and 30% of global assets may be tokenized. Asset tokenization has transitioned from experimental pilots to large-scale institutional adoption in 2024-2025. By December 2024, the market size for tokenized real-world assets reached $15.2 billion (excluding stablecoins) and continues to grow, surpassing $24 billion by June 2025, representing an 85% year-on-year increase. As of June 2025, private credit has become the largest area of RWA tokenization, reaching $14 billion, indicating institutional demand for blockchain-native credit markets.