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Cryptocurrency News & Market Updates

HTX Research Latest Report | From Asset Tokenization to Cash-Flow Tokenization: RWA and DeFi Enter the Second Half of Programmable Finance
HTX Research Latest Report | From Asset Tokenization to Cash-Flow Tokenization: RWA and DeFi Enter the Second Half of Programmable Finance

1. Executive Summary

Over the past two years, RWA tokenization completed its initial phase of proof of concept. The market size of tokenized assets excluding stablecoins grew from less than $3 billion in mid-2024 to surpass $30 billion in April 2026, later remaining around $34 billion. This expansion demonstrates that traditional financial assets can be effectively mapped onchain and that institutions are increasingly viewing blockchain as a vital infrastructure layer for issuance, settlement, and asset management.

Jul 27, 202626 min read