This report, jointly released by DigiFT and CoinFound, focuses on the key drivers of RWA development in 2026. The report points out that RWAs are moving from being "tokenizable" to being "scalable and usable." Macroeconomic interest rate cuts, liquidity reallocation, and the maturing of compliant distribution channels will jointly drive the expansion of funds from the money market to assets such as gold, private lending, stocks, and real estate. The core of competition in the next stage will not lie in the assets themselves, but in compliance structures, liquidity pathways, and on-chain composability. This will determine which RWAs can truly enter the mainstream financial system.
—A structural migration from asset tokenization to financial infrastructure
2025 marked the official transition of Real-World Assets (RWAs) from the "pilot phase" to the early institutional-scale deployment phase . The types of tokenized assets expanded from money market funds and private lending to commodities, stocks, funds, and structured products. On-chain RWA TVL continued to grow, and the market began to form a clear product structure and distribution path. Entering 2026, the industry's focus shifted from "whether tokenization is possible" to " whether it can be distributed, used, and integrated into the financial system at scale."
This report analyzes the situation from three core dimensions: the macro environment, liquidity structure, and market reach path , systematically depicting the structural conditions for RWA to move towards the next stage of growth.
I. Macroeconomic Level: Interest Rate Cycle Changes Reshape Asset Allocation Logic
As the US enters a rate-cutting cycle, the risk-free rate of return is gradually declining, making short-term Treasury bonds and money market funds less attractive. Funds are beginning to seek asset portfolios that combine profitability, diversification, and inflation protection .
This change not only affects traditional financial markets, but also has a simultaneous impact on the on-chain ecosystem:
Gold and precious metals have once again become core assets for hedging against inflation.
Increased demand for credit assets and private lending
Bitcoin regains support from the "digital gold" narrative.
On-chain asset allocation is beginning to converge with the asset allocation logic of TradeFi.
RWA's value is shifting from "technological innovation" to its role as an asset allocation tool .
II. Liquidity Level: Shifting from "Issuance Logic" to "Distribution Logic"
In 2026, the core of RWA will no longer be asset tokenization itself, but rather:
Who can provide a sustainable liquidity structure, compliant distribution capabilities, and a secondary transfer mechanism?
The report points out that tokenization platforms are showing two clear divergent paths:
Single-asset specialized platforms (such as government bonds, credit, gold, etc.)
Multi-asset distribution platform (covering funds, commodities, stocks, and structured products)
Projects with true scalability potential must address three things simultaneously:
Compliant custody structure + composable design + secondary market liquidity pathway .
The next stage of competition in tokenization is essentially a competition of infrastructure rather than a competition of product quantity.
III. Structural Opportunities in Key Asset Sectors
The report clearly identifies the RWA direction with the greatest potential for breakthrough in 2026:
1. Precious Metals RWA (From "Single Point of Gold" to "Multi-Metal Structure")
Gold remains the core anchor asset, but precious metals such as silver, platinum, and palladium have room for tokenization expansion, forming a new structure of "multi-precious metal on-chain asset pool".
2. Equity and Private Equity Tokenization
Tokenized stocks are gradually moving from price-anchored models (xStocks, economic exposure models) to compliant and structured paths; private equity tokenization is seen as a key breakthrough direction for the next stage, with its core value lying in the release of liquidity and the expansion of access .
3. Real Estate RWA
The core significance of tokenized real estate is not "replacing property rights," but rather providing a small-scale, cross-border, and transferable investment channel.
4. Tokenization of Hedge Funds and Structured Strategies
High-yield strategies are tokenized to form a complementary product layer, meeting the allocation needs of investors with a high risk appetite, with a target return range of 15%–30%.
IV. Key Variable: Can RWA truly integrate into the on-chain ecosystem?
The report makes a core judgment:
The decisive factor for RWA's growth in 2026 will not be "asset supply," but rather on-chain integration capabilities .
The key conditions that truly drive scaling include:
A clear market structure regulatory framework (such as the Clarity Act).
Compliant custody and distribution structure of security tokens
DeFi and RWA composability design
Compliant secondary market liquidity path
Cross-chain settlement and institutional-grade custody infrastructure
The ultimate form of RWA is not "asset on-chain", but rather becoming a basic component of the on-chain financial system .
Conclusion: Core Themes for 2026
If 2025 is the "launch year" for RWA,
Therefore, 2026 will be the "year of structured expansion" :
From product logic to infrastructure logic
From tokenization to financial integration
From asset on-chain → Asset allocation tools
From single-point breakthrough to systematic expansion
RWA is evolving from a “crypto narrative” into an infrastructure module for the next generation of financial systems .
"DigiFT Research: RWA 2026 Outlook - Macroeconomics, Liquidity, Market Reach" Full report link:
- CoinFound: https://app.coinfound.org/zh/research/5
- DigiFT Research : https://insights.digift.io/2026-rwa-outlook-macro-liquidity-and-distribution/
