In April 2025, the tokenization of real-world assets (RWA) is accelerating from proof of concept to scaled application, becoming a key bridge connecting traditional finance and the crypto market. Despite the recent volatility in the cryptocurrency market, the RWA sector has grown against the trend, with the total on-chain market value breaking through $19.7 billion, demonstrating strong development resilience. Institutional entry has accelerated, such as Circle's application for NYSE listing ...