When BlackRock chairman Larry Fink wrote, “Every stock, every bond, every fund—every asset class—can be tokenised,” he wasn’t forecasting a distant revolution. He was describing a shift already underway—one that is rewiring how capital is formed, distributed and accessed. The shift has a name: Real-World Asset (RWA) tokenisation. Today, more than USD 24 billion of RWA circulate on public blockchains, spanning yield-bearing Treasuries, private-credit pools, tokenised commodities and real estat...
