Ethereum Updates: Tokenized Assets Projected to Reach $2 Trillion as Ethereum and Stablecoins Propel DeFi Transformation

Standard Chartered has released one of the boldest outlooks for digital finance to date, predicting that the total value of tokenized real-world assets (RWAs) could soar to $2 trillion by 2028, as stated in

. The bank’s latest publication details this forecast, which represents a 57-fold surge from the current $35 billion market size, based on . According to the bank, this rapid expansion is fueled by the growing use of decentralized finance (DeFi), improvements in blockchain technology, increased stablecoin liquidity, and advancements in regulatory frameworks in major markets.

The report divides the projected $2 trillion market into several categories: $750 billion in tokenized money-market funds, another $750 billion in tokenized U.S. stocks, and $250 billion each in tokenized investment funds and less liquid assets such as commodities, corporate bonds, and real estate. This variety highlights a trend toward bringing mainstream financial products onto blockchains, allowing for continuous trading and enhanced liquidity. Standard Chartered points out that

is expected to lead this transformation, thanks to its established ecosystem and network advantages, even though some other blockchains offer faster transactions.

Stablecoins are identified as a major driver behind this anticipated growth. The bank projects that stablecoin supply could also reach $2 trillion by 2028, setting off a "self-reinforcing cycle" of liquidity that propels DeFi expansion, according to the report. Geoff Kendrick, who leads digital assets research at Standard Chartered, remarked that stablecoins have already paved the way by boosting public understanding and enabling on-chain lending and borrowing, as mentioned in

. As of October 2025, the stablecoin market has climbed to $300 billion, marking a 47% increase since the start of the year.

Regulatory uncertainty remains a significant obstacle. The European Union’s MiCA regulations and Singapore’s forward-thinking policies serve as examples for tokenization, but the U.S. still faces ambiguity ahead of the 2026 midterm elections, according to the bank. Kendrick cautioned that without further regulatory progress, adoption could slow, but he remains positive given the current pace of development.

In addition to RWAs, blockchain infrastructure is advancing quickly. BitGo has added Canton Coin to its custody services, supporting the Canton Network’s institutional blockchain for tokenized securities and loans, as reported by

. At the same time, Circle’s Arc blockchain testnet—supported by more than 100 organizations, including BlackRock and Goldman Sachs—aims to link global markets with near-instant settlement and USDC-based transaction fees, according to .

Standard Chartered’s outlook for 2028 builds on its previous $30 trillion RWA estimate for 2034, signaling a pivotal moment ahead, driven by stablecoin momentum and Ethereum’s leading role. As established financial giants like BlackRock and JPMorgan increase their involvement in DeFi, the push to tokenize $100 trillion in worldwide assets is rapidly gaining traction.