NEW YORK--(BUSINESS WIRE)--Today the Tokenized Asset Coalition (TAC) released its second State of Tokenization Report, a comprehensive look at the industry with data and insights from a variety of TAC members. In addition, the TAC announced it has welcomed 21 new members into its ranks, a second cohort selected from more than 175 applicants.
The Tokenized Asset Coalition champions the adoption of public blockchains, asset tokenization and institutional DeFi to dramatically alter the way capital is formed, invested and managed onchain. The TAC was formed in the fall of 2023 by Aave, Centrifuge, Circle, Coinbase, Base, RWA.xyz and others, and now includes over 40 leaders in tokenization.
The 2024 report examines regulation's role in adoption, the rise of institutional investors bringing assets onchain, and the latest innovations in the industry. Highlights include:
- Major institutions like McKinsey, Citi, and Standard Chartered forecast the tokenized assets market to reach $2 trillion to $30 trillion in the next decade.
- Tokenized assets (RWAs) represent $176 billion today, or nearly $15 billion excluding stablecoins, across 150+ tokenized asset issuers on 20+ public blockchains.
- A Coinbase survey of Fortune 500 execs revealed 56% of companies are working on onchain projects.
- While most of the attention is on tokenized Treasuries, private credit comprises the bulk of tokenized assets TVL – nearly $9 billion of loans are active.
- Tokenized metals have also been on the rise, crossing the $960 million market cap and closing in on $1B.
- The report showcases the latest innovative launches from members including Coinbase, Centrifuge, Provenance Blockchain, Solana, Securitize, Chainlink Labs, Ondo, and more.
To download the full report, visit this webpage: RWA.xyz Blog - Tokenized Asset Coalition's 2024 Industry Update.
The new organizations represent a range of industries including venture capital, financial services, DeFi, asset management, and financial technology. These new members include: a16z, Aptos Labs, Offchain Labs, Axelar Foundation, Chronicle, Etherfuse, Flow Traders, Galaxy Digital, Hashnote, Injective, Kinto, Matrixdock, Mercado Bitcoin, Metawealth, Nayms, Noble, Oasis Pro, Plume, Pyth and WisdomTree. A full list of members can be found at the tokenizedassetcoalition.com.
All members will join a TAC working group, participate in events, produce unique content and contribute toward the ongoing adoption of tokenized assets. As a result of this growing membership, the TAC will continue to become more robust as additional experience and expertise are added.
The Coalition invites all relevant organizations to apply to become part of the coalition and contribute to the transformation of the financial landscape. Through collective efforts, a new era of efficiency, transparency, and accessibility in global finance can emerge.
About the Tokenized Asset Coalition
The Tokenized Asset Coalition seeks to unite traditional and crypto financial systems with the shared belief that many assets will eventually move onchain. By addressing the inefficiencies, opacity and fragmentation of the current financial infrastructure, the Tokenized Asset Coalition aims to spearhead the next wave of digital transformation. The founding Coalition members, including Centrifuge, Circle, Coinbase, Base, Credix, Provenance Blockchain Foundation, Goldfinch and RWA.xyz, are on a mission to educate and advocate for shared principles and best practices and build the on-chain infrastructure of tomorrow.
