In 2025, the real-world asset (RWA) market has become one of the major trends in the cryptocurrency industry, with more and more companies joining the wave of asset tokenization.
Although some research indicates that the RWA market size surged by 260% this year, some industry executives have questioned the reported market size, believing that the field is still in its infancy and relatively small in scale.
Industry executives told Cointelegraph that the slow adoption rate may stem from outdated regulatory frameworks, limited access channels, and a general misunderstanding of how tokenized assets are supported.
However, the issue of RWA support is not just a technical problem; it is also influenced by other factors.
Adam Levi, co-founder of the tokenization platform Backed, told Cointelegraph that the issue of RWA support is very important because crypto tokens are often driven by hype, marketing, or memes rather than true fundamentals.
Levi stated, "For real-world assets like tokenized stocks, trust entirely depends on the structure of the product, the transparency of the issuer, and the level of regulation."
When evaluating financial RWA tokens like Backed's xStocks, Levi emphasized that understanding their support is not just a technical issue.
He added, "This is a legal and financial issue." Issuers have a legal obligation to maintain full backing and ensure transparent issuance and redemption mechanisms through a clear regulatory framework:
"Technology—secure smart contracts, technical platforms, and custody integration—is also crucial, but trust in financial products comes from enforceable commitments under a strong regulatory framework. The foundation is legal, not just code."
Alan Konevsky, executive vice president of TZero, stated that the tokenization of RWAs, especially those based on physical assets like real estate or collectibles, cannot yet be fully automated.
He said, "Financial instruments, especially tokenized financial instruments, can be fully automated." He added that the tokenization of physical assets requires intermediaries from traditional market participants.
Ross Shemeliak, co-founder of Stobox, told Cointelegraph that RWA support is a real issue in the industry, but it is not unique to cryptocurrency; traditional investments like real estate face similar challenges.
Shemeliak said, "Tokenization is just one way of investing here." He agreed that the current responsibility lies with tokenization providers, who conduct enhanced due diligence, reviewing offering memorandums, underlying assets, and legal restrictions.
He pointed out, "Nevertheless, this does not guarantee 100% safety: the complexity of verification can sometimes lead providers to launch fraudulent projects." He suggested addressing this issue with data-rich RWA tokens, where smart contracts directly store warehouse data and asset details on the blockchain.
According to Shemeliak, data-rich RWA tokens not only represent ownership but also embed or link to structured, dynamic data about the assets, such as valuations, legal status, and other information.
He said, "This creates new levels of transparency, interoperability, and investor trust, which are often lacking in traditional securities and early tokens."
In industry examples of data-rich RWA token technology, Shemeliak mentioned Chainlink's proof of reserves and cross-chain interoperability protocols, which have been implemented by platforms like Backed Finance, Maple Finance, and Centrifuge.
Additionally, Stobox found that the top five jurisdictions for conducting tokenization transactions are the British Virgin Islands, Wyoming in the United States, Liechtenstein, Singapore, and the Marshall Islands.
In the "Tokenization Jurisdiction Report" shared with Cointelegraph, Stobox stated, "Although Singapore and Luxembourg rank in the top five for regulatory quality and efficiency, they are still underutilized as destinations for special purpose vehicles for tokenization transactions: they account for less than 2% of global transactions."
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Original article: “RWA Support: How Issuers Ensure a 1:1 Peg with Tokenized Assets?”
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