The Real-World Asset Tokenization Ecosystem
Real World Asset (RWA) tokenization is rapidly gaining adoption as businesses recognize its potential to unlock liquidity, enhance transparency, and increase accessibility to global markets. By bridging traditional assets with blockchain technology, tokenization creates new opportunities for investors and issuers alike.
The real world asset (RWA) ecosystem map highlights the key RWA tokenization companies including platforms, protocols, custodians, and service providers, driving the adoption of RWA tokenization, showcasing the infrastructure enabling secure, compliant, and efficient management of tokenized assets.
Asset Issuers & OriginatorsTokenization PlatformsBlockchain Networks & ProtocolsExchanges, Trading Venues & ATSAutomated Market Maker (AMM)Market Infrastructure & Central DepositoriesCustodians & WalletsAgentic / Agent AccessDeFi Applications & Yield ProtocolsCompliance & Regulatory ServicesAdvisory & Consulting ServicesData Aggregators
Asset Issuers
& Originators
& Originators
Entities that originate or manage the underlying real-world assets before they're tokenized, including asset managers, fund issuers, and financing originators.
Galactica
Originates tokenized trade and asset financing deals, including ship financing, issued on InvestaX.
GetSolar
Originates tokenized renewable energy infrastructure assets, issued on InvestaX.
BlackRock
Issues tokenized products giving on-chain exposure to U.S. Treasury and money market instruments, and is exploring tokenized ETF structures. Its public ETFs also serve as the underlying reference asset for other platforms' tokenized vaults, including InvestaX's HYCB.
Franklin Templeton
Issues tokenized money market fund products through its own on-chain fund infrastructure.
Matrixdock
Issues tokenized short-term government debt and tokenized gold products, both live on InvestaX.
Superstate
Issues tokenized government bond fund products.
WisdomTree
Issues tokenized money market and government fund products.
JPMorgan
Issues a tokenized money market fund product for institutional liquidity management.
Hashnote
Issues a tokenized short-term yield fund product.
Apollo
Issues tokenized exposure to private credit funds.
Janus Henderson
Issues tokenized exposure to structured credit portfolios.
Tokenization
Platforms
Platforms
Tokenization platforms provide technology to tokenize real world assets (RWAs). They can be a technology-only tokenization platform or a tokenization platform with technology and licenses for the issuance and management of digital tokens of RWAs.
InvestaX
MAS-licensed platform for the issuance, distribution, and on-chain access of institutional-grade real-world assets. Licensed by the Monetary Authority of Singapore (MAS) and holds a Capital Markets Services (CMS) Licence and Recognized Market Operator (RMO) License.
IXS
Licensed blockchain and tokenization infrastructure for real-world assets (RWAs), operating as the yield layer connecting tokenized RWAs to agentic finance. Holds a Digital Assets and Registered Exchange approval from the Securities Commission of The Bahamas.
Ondo Finance
Platform issuing tokenized U.S. Treasury and money market products for on-chain access.
Polymesh
Purpose-built blockchain and platform for regulated asset issuance, with identity and compliance built into the protocol layer.
Swarm
Germany-based tokenization platform regulated by BaFin.
Vertalo
SEC-registered digital transfer agent supporting tokenized asset administration.
Forge
Forge (Societe Generale) - Issues and manages tokenized financial products for institutional issuers and investors.
BlockRidge
Tokenization platform focused on financing access for asset owners across multiple asset classes.
Obligate
Obligate is a platform for structuring, issuance, and distribution of on-chain debt instruments based in Switzerland.
Securitize
Securitize is a US-Based digital securities issuance platform that provides access for investors to invest in private market digital asset securities.
Black Manta Capital Partners
Black Manta Capital Partners (“BMCP”), based in Germany, operates a regulated investment platform for issuances of digital and tokenized assets in the European capital market.
Tokensoft
Tokensoft is a US-based technology and security platform for companies seeking to issue assets on the blockchain, at scale, and within compliance.f digital and tokenized assets in the European capital market.
tZERO
tZERO offers solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system.
Fireblocks
Fireblocks is a tokenization platform that specializes in the issuance, custody, and transfer of tokenized assets.
Kaleido
Kaleido is a digital asset platform designed to facilitate the creation, management, and tracking of digital assets.
Visa Tokenization
Visa’s tokenization technologies aim to empower banks, merchants and the wider payments ecosystem to boost authorization, drive innovation and create new digital commerce experiences.
Spydra
Spydra's asset tokenization allows companies to tokenize a wide range of assets, including real estate, commodities, intellectual property and financial instruments.
Stobox
Stobox is a tokenization company that provides technology and consulting to help clients leverage digital assets and tokenized securities.
Bitbond
Bitbond provides a tokenization platform that focuses on the tokenization of assets and digital assets technology.
Tokeny
The T-REX platform by Tokeny is a white-label tokenization solution that provides an interface and UX that allows asset owners to digitally and compliantly issue, allocate and manage security tokens.
Blocksquare
Blocksquare provides a blockchain-based real estate tokenization system headquartered in Ljubljana, Slovenia (EU).
Zoniqx
Zoniqx's Tokenization Platform as a Service (TPaaS) is a white-label solution that integrates analytics, algorithms, and transformative technology for asset tokenization.
Onyx
Onyx Digital Assets is an asset tokenization platform you can use to create scalable tokenization-based solutions that meet your needs.
Brickken
Brickken’sToken Suite facilitates creating tokens, managing tokens, and enabling streamlined fundraising campaigns.
Polymath
Polymath is a security token platform to digitize real world assets represented as security tokens and operated through smart contracts.
Aktionariat
Aktionariat provides tools to help companies access and leverage the power of tokenized equity.
Allo
Allo is an RWA tokenization platform that enables you to transform real-world assets into fungible tokens, unlocking instant liquidity.
Anotherblock
Anotherblock is a platform for music right tokenization. It enables the buying and selling of music rights, helping both rightsholders and investors navigate the future of alternative investments.
Backed Finance
Backed Finance offers a turnkey solution that allows for the creation, management, and distribution of tokenized investment products.
BlockCellar
BlockCellar is a blockchain-enabled platform that offers collectors a simple and secure way to buy, sell, store, trade, and transfer investment-grade wine and spirits.
Blocksquare
Blocksquare provides infrastructure for tokenizing real estate, enabling property owners and investors to create and trade fractionalized real estate assets on the blockchain.
ADDX
ADDX is a Singapore-based private market investment platform that enables investors to invest in Private Equity, Hedge Funds, and Real Estate in fractions.
Assetera
Securitize is a US-Based digital securities issuance platform that allows companies andAssetera is a regulated platform for digital securities in the EU. Assetera is specialized in primary and secondary marketplace operation for digital securities and digital assets. funds to raise capital through its primary marketplace.
Hong Kong Virtual Asset Exchange (HKVAX)
HKVAX operates a regulated, Hong Kong-based virtual asset platform specializing in OTC trading, security token offerings, and real-world asset tokenization.
Chintai
Chintai is a Singapore-based tokenization platform with a primary and secondary marketplace for RWA token investment and trading. Chintai holds a Capital Markets Services (CMS) license from MAS.
AmFi
AmFi is a regulated digital fixed income investment platform in Brazil that connects credit originators with investors, facilitating the structuring, distribution, and operation of financial products.
Binaryx
Binaryx is a platform that enables secure fractional ownership and investment opportunities in real estate assets.
Blockchain
Networks &
Protocols
Networks &
Protocols
Blockchain networks and protocols enable secure, transparent RWA tokenization by providing the infrastructure and rules for creating, transferring, and managing digital assets. Networks like Base and XDC Network offer decentralized platforms, while protocols define the rules for transaction validation and data security. Smart contracts automate processes, ensuring transparency and immutability, making blockchain essential for tokenizing real-world assets.
XRP Ledger
Layer 1 blockchain used for tokenizing and exchanging real-world and crypto-native assets.
Concordium
Proof-of-stake blockchain using zero-knowledge identity verification, positioned for regulated asset use cases.
XDC Network
XDC Network, a Layer 1, enterprise-grade blockchain protocol, was purposefully built for RWA and enterprise applications. The XDC Network sets a benchmark for digitizing trade finance by enabling the tokenization of diverse trade finance instruments and assets.
Base
Base is a secure, low-cost, builder-friendly Ethereum Layer 2 solution developed by Coinbase. Base has integrated with tokenization platforms like InvestaX to make RWA tokens accessible to millions of users.
Polygon
Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. Polygon has integrated with tokenization platforms like InvestaX to facilitate the widespread adoption of tokenized real-world assets (RWAs) on the Ethereum blockchain.
Kaia
Kaia Blockchain (previously Klaytn) is a Layer 1 blockchain based on EVM (Ethereum Virtual Machine) and has been designed with scalability, convenience, and reliability as top priorities.
Ethereum
Ethereum is the leading blockchain platform for decentralized applications, offering robust support for tokenization via its smart contract functionality.
BNB Chain
BNB Chain is a blockchain for Web3 dApps with massive user bases. BNB Chain has integrated with tokenization platforms like InvestaX to facilitate its One-Stop Tokenization Solution in November 2024.
Avalanche
Avalanche is a decentralized, open-source proof-of-stake blockchain with smart contract functionality.
Solana
Solana's high transaction speed and competitive fees make it an ideal platform for tokenizing real-world assets, from US treasuries to real estate.
Exchanges, Trading
Venues & ATS
Venues & ATS
Regulated venues and platforms supporting the trading of tokenized securities and digital assets.
InvestaX
InvestaX operates a regulated secondary marketplace for RWA tokens under a Recognized Market Operator (RMO) license issued by MAS.
IXS
IXS operates a decentralized exchange (DEX) for RWA token trading, licensed for retail investors.
tZERO
U.S.-regulated alternative trading system for digital securities.
INX
Regulated platform combining security token trading, crypto trading, and capital raising.
SIX Digital Exchange (SDX)
Swiss-regulated exchange for issuance, listing, trading, and custody of digital securities.
AsiaNext
Institutional-only digital asset exchange.
HKbitEx
Hong Kong-regulated spot and OTC digital asset exchange.
ADDX
ADDX operates a secondary trading platform that provides investors the opportunity to exit selected holdings, partially or fully.
Assetera
Assetera operates a Europe's first regulated secondary marketplace operation for tokenized real-world assets (RWAs). Assetera is Austria-based and regulated by the Austrian Financial Market Authority (FMA).
Archax
Archax operates an institutional-grade digital securities exchange for tokenized real-world asset trading. Archax is UK-based and regulated by the FCA as an exchange, broker and custodian for digital assets.
Aktionariat
Enable direct trades between existing shareholders and new investors.
Allo
Allo’s RWA marketplace enables users to tokenize, invest and trade financial assets on-chain.
Automated
Market Maker
(AMM)
Market Maker
(AMM)
One of the most significant value propositions of tokenizing real-world assets lies in connecting them to the DeFi (Decentralized Finance) ecosystem. By leveraging liquidity pools and Automated Market Makers (AMMs), investors to buy or sell assets without needing a counterparty. This can be especially valuable in real estate or private equity markets where liquidity is often lacking.
IXS
IXS is the world's first AMM for security tokens. IXS allows any investor holding a security token to start their first liquidity pool legally and compliantly at a very low cost to provide liquidity for RWA token trading.
Market Infrastructure
& Central Depositories
& Central Depositories
Settlement and depository institutions bringing tokenized securities into existing market infrastructure.
DTCC Digital Assets
Tokenizes securities already held in custody at the Depository Trust Company; began limited live production trades in July 2026, full launch scheduled October 2026.
Custodians
& Wallet
Solutions
& Wallet
Solutions
Custodians and wallet solutions are cornerstone infrastructures for Real World Asset (RWA) tokenization. Custodians safeguard the underlying physical and digital assets, ensuring regulatory compliance and secure asset management, which are critical for building investor trust. Wallets, on the other hand, empower users with secure access to their tokenized assets, enabling seamless transactions, storage, and interaction with decentralized finance (DeFi) platforms.
Ripple Custody
Digital asset infrastructure and custody provider for financial institutions.
Taurus
Custody and tokenization platform for crypto assets, tokenized assets, and digital currencies.
Copper
Custody and collateral management for institutional digital assets.
DFNS
Wallet infrastructure and cybersecurity provider for digital asset custody.
Ledger
Hardware wallet and custody infrastructure provider.
Cactus Custody
Cactus Custody is a leading institutional digital asset custody provider and a licensed Hong Kong Trust Company (License No.: TC006789), and exempted by the Monetary Authority of Singapore (MAS).
Metamask
A leading Web3 wallet enabling users to securely store, manage, and transact tokenized RWAs while interacting with DeFi platforms and dApps.
HexTrust
Hex Trust offers fully regulated institutional digital asset Custody, Staking and Markets services to builders, investors and service providers.
Tangany
Tangany’s Wallet-as-a-Service (WaaS) core custody solution offers maximum security and flexibility for digital assets.
Fordefi
Fordefi's MPC wallet is an all-in-one solution for digital assets management, providing provides users control over their assets and transparency into their activities with on-chain transactions.
Onyze
Onyze is a digital assets custody platform & Crypto-assets as a Service that offers security & tech infrastructure for third parties.
Agentic /
Agent Access
Agent Access
Infrastructure enabling AI agents to monitor, execute, or transact with tokenized real-world assets, either autonomously within a permissionless framework or under a verified investor's mandate.
IXS
Provides licensed infrastructure for the issuance, trading, and settlement of tokenized real-world assets, extending into a yield layer where authorized agents can custody, transact, and access yield on regulated RWAs through permissioned and permissionless vaults.
Ant Group (Anvita)
AI agent platform for holding digital assets and executing stablecoin transactions.
DeFi Applications
& Yield Protocols
& Yield Protocols
Decentralized Finance (DeFi) is reshaping traditional finance through blockchain technology, enabling peer-to-peer transactions and automated services via smart contracts. In the RWA tokenization ecosystem, DeFi not only enhances efficiency and transparency but also unlocks new use cases for tokenized assets. By integrating real-world assets with DeFi applications, investors gain access to diverse financial opportunities, from lending and borrowing to liquidity provision, creating a more dynamic and inclusive financial landscape.
Isle Finance
RWA lending protocol addressing liquidity for supply chain enterprises.
Mu Digital
Protocol offering on-chain access to Asia-based tokenized yield products.
Fasset
Global digital asset gateway connecting real-world assets to on-chain liquidity.
Fortunafi
On-chain liquidity solution for stablecoin issuers and protocol treasuries.
Maple
Maple is a decentralized corporate debt platform enabling institutions to borrow from liquidity pools, offering sustainable RWA yields in DeFi.
Centrifuge
Centrifuge’s RWA Market gives users the ability to lend and borrow against eligible pool tokens.
Goldfinch
Goldfinch connects DeFi's global liquidity pools to corporate lending, the leading form of off-chain lending, secured by real-world assets.
ClearPool
Clearpool is a premier decentralized credit marketplace. Clearpool’s Ozean, an RWA yield chain on Optimism, enables native on-chain yield and seamless integration of RWA in DeFi
Credix Finance
CREDIX is a decentralized credit marketplace connecting investors with FinTechs in emerging markets.
TrueFi
TrueFi is DeFi's first credit protocol. Lenders enjoy predictable, transparent yields on real world and crypto-native lending.
RainFi
Rain.fi is a lending protocol on Solana with NFTs, DeFi Tokens and RWAs as collateral.
Oceanpoint
Oceanpoint is a DeFi platform enabling users to earn yields by staking and supporting tokenized real estate, bridging real-world assets with decentralized liquidity pools.
Defactor
Defactor provides a comprehensive decentralized open-source toolkit for asset tokenization, enabling businesses to access DeFi liquidity backed by real-world value.
Atlendis
Atlendis is a decentralized finance (DeFi) protocol that facilitates uncollateralized lending, connecting investors with real-world businesses seeking alternative financing solutions.
Compliance
& Regulatory
Services
& Regulatory
Services
Compliance and regulatory services are essential for ensuring that asset tokenization efforts meet all legal and regulatory standards. Service providers in this field work to ensure that tokenized assets comply with both local and international laws, minimizing risks and protecting both businesses and investors.
ComplyCube
ComplyCube provides Identity Verification (IDV), Anti-Money Laundering (AML), and Know Your Customer (KYC) compliance solutions.
DLA Piper
Advised on the tokenization of a $100 million private equity fund by the asset manager KKR
Aird Berlis
Aird Berlis is a Canada-based law firm, advising on blockchain, ICOs & STOs, tokenization of securities and capital markets transactions.
Annerton
Annerton is a Germany regulatory law firm, advising on Security Token Offerings (STO), crypto and digitisation.
Baker McKenzie
Baker McKenzie is a Chicago-based law firm. In December 2022, Baker McKenzie advised UBS AG on a transnational digital securities issuance using the distributed ledger technology (DLT).
Herbert Smith Freehills
Herbert Smith Freehills Spain advises Red eléctrica corporación on the world's first syndicated €150 million loan based on blockchain.
Linklaters
Linklaters is a London-based law firm. Linklaters advised the residential real estate company Vonovia SE on the issuance of the company's first fully digital registered bond of € 20 million.
Bryan Cave Leighton Paisner
Bryan Cave Leighton Paisner LLP (BCLP) is an international law firm with 31 offices worldwide. BCLP advises tZero on its enterprise-level blockchain solutions including token issuance, management and trading.
Advisory &
Consulting
Services
Consulting
Services
Advisory and consulting services play a crucial role in the tokenization of real-world assets (RWAs). These services guide businesses through the complexities of the tokenization process, ensuring that legal, regulatory, and operational frameworks are met. Advisors help companies understand the technical aspects, navigate compliance requirements, and develop strategies that maximize efficiency and minimize risks when tokenize assets.
InvestaX
InvestaX‘s advisory service helps businesses tokenize real-world asset legally, compliantly, and cost-efficiently.
Stobox
Stobox’s digital asset consulting service helps businesses develop and implement digital asset solutions for their enterprise.
Data
Aggregators
Aggregators
Platforms that compile, organize, and present data on tokenized real-world assets, supporting transparency and informed decision-making across the ecosystem.
RWA.io
Data and discovery platform for the RWA sector, positioned as a central hub for tracking tokenized asset activity across chains.
DIA
Cross-chain oracle and data provider supplying pricing and asset data for RWA tokenization.
Securities.io
Securities.io offers breaking news on DeFi & digital securities, including tokenized real world assets.
RWA.xyz
RWA.xyz provides analytics on tokenized real-world assets. View protocol statistics, industry aggregate metrics, and the issuers all in one place.
Security Token Market
Security Token Market is a global hub of security token data & research. The platform provides comprehensive tracking of tokenized RWA and security tokens, including trading volumes, prices, market performance, and issuer details.
Inveniam
Inveniam.io is the data operating system that delivers access, transparency, and trust in the value and performance data for private market assets.
Moody's
Moody's Analytics provides financial insights, exploring tokenization and integrating on-chain and traditional data to enhance transparency and risk management for RWAs.
RWA Inc.
The RWA Hub, launched by RWA Inc. provides a centralized space for users to stay informed about the latest developments, events, and opportunities within the RWA ecosystem