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Current Landscape of the Real-World Asset (RWA) Tokenization Ecosystem

This paper provides a systematic survey of the burgeoning Real-World Asset (RWA) tokenization sector. By mapping the interaction between traditional financial m

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Abstract

This paper provides a systematic survey of the burgeoning Real-World Asset (RWA) tokenization sector. By mapping the interaction between traditional financial markets and distributed ledger technology, Li investigates the mechanisms that bridge off-chain collateral with on-chain representation. The research evaluates the current market structure, detailing how various protocols facilitate the migration of yield-bearing assets, real estate, and private credit into the blockchain environment. A key emphasis is placed on the regulatory arbitrage and operational efficiencies that drive adoption, while identifying significant structural risks inherent in legacy infrastructure integration. Through a comparative analysis of institutional versus decentralized platforms, the author assesses the sustainability of current liquidity models. The study concludes by examining the maturity of the ecosystem and the critical dependencies on interoperability and institutional standardizations, offering a realistic assessment of the progress toward democratized asset fractionalization. Authors: Jiasun Li Publication: Academic Paper Publication date: 2025-01-01

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Key findings

  • RWA tokenization serves primarily as an efficiency optimization layer for existing financial products.
  • Liquidity fragmentation remains the most significant barrier to institutional scalability.
  • Regulatory uncertainty creates a bifurcation between permitted private chains and permissionless public protocols.
  • Infrastructure maturity is currently hindered by the lack of standardized legal wrappers for digital representations.

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Citation

Jiasun Li (2025). Current Landscape of the Real-World Asset (RWA) Tokenization Ecosystem. Academic Paper. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6077226
Canonical knowledge ID: research:current-landscape-of-the-real-world-asset-rwa-tokenization-ecosystem