according to the Redstone report, the scale of Risk-Weighted Asset Tokenization (RWA) surged from $5 billion in 2022 to over $24 billion by June 2025 (a growth of 380%), becoming the second fastest-growing sector in the cryptocurrency field after stablecoins. Industry forecasts indicate that 10% to 30% of global assets may be tokenized by 2030 to 2034. Asset tokenization has transitioned from experimental pilot projects to institutional adoption at scale in 2024-2025. By December 2024, the tokenized real-world asset market had reached $15.2 billion (excluding stablecoins), and continued to grow, exceeding $24 billion by June 2025, an 85% increase year-on-year. As of June 2025, private credit has become the largest area of RWA tokenization, with a scale of $14 billion, indicating institutional demand for the blockchain-native credit market.