现实世界资产（RWAS）的象征化正在加速全球金融的基本转变

这两家公司的报告称，由寻求屈服的Stablecoin持有人和机构收养的驱动，令牌化的美国国债同比飙升了415％。

As the tokenization of real-world assets (RWAs) accelerates a fundamental shift in global finance, blockchain-based U.S. Treasuries, equities, commodities, and private credit are poised for exponential growth this year, according to a report by market maker Keyrock and tokenization platform Centrifuge.

根据做市商KeyRock和Sokenization Platform Centrifuge的一份报告，随着现实世界资产（RWAS）的加速加速了全球金融的根本转变，基于区块链的美国国债，股票，商品和私人信贷已准备成指数增长。

Keyrock and Centrifuge Analysis: Tokenized RWAs Could Capture 10% of Stablecoin Market by Year’s End

KEYROCK和离心分析：标记的RWA可以在年底前捕获Stablecoin市场的10％

Tokenized U.S. Treasuries have surged 415% year-over-year, driven by yield-seeking stablecoin holders and institutional adoption, the two firms report. Keyrock and Centrifuge project that this sector could reach $28 billion if tokenized products capture 10% of the $210 billion stablecoin market. “We expect tokenized Treasuries to evolve from a niche innovation into a core infrastructure component of global digital finance,” the report notes.

这两家公司的报告称，由寻求屈服的Stablecoin持有人和机构收养的驱动，令牌化的美国国债同比飙升了415％。 KeyRock和离心机项目，如果象征性产品捕获了2100亿美元的Stablecoin市场的10％，则该行业将达到280亿美元。报告指出：“我们期望令牌化的国库从利基创新发展为全球数字融资的核心基础设施组成部分。”

The analysis explains that tokenized equities lag at $15 million TVL but face a pivotal 2025 as regulatory clarity expands. Backed Finance and Ondo Global Markets now enable permissionless access to tokenized S&P 500 exchange-traded funds (ETFs) and corporate shares.

分析解释说，令牌股票滞后于1500万美元，但随着法规清晰度的扩大，面对2025年关键的2025年。现在，支持的金融和Ondo全球市场可以使无权访问标准的标准普尔500交易所交易资金（ETFS）和公司股票。

“The democratization of sophisticated financial tools through non-KYC, permissionless protocols promises to unlock trillions in untapped market potential from previously underserved regions and populations,” the Keyrock and Centrifuge study details.

“通过非KYC，复杂的金融工具的民主化，无许可的协议有望从以前服务不足的地区和人口中解放出未开发的市场潜力数万亿，” KeyRock和离心机研究细节。

The report highlights that commodities like gold struggle with liquidity gaps despite $1.2 billion in tokenized supply, though synthetic platforms like Ostium Labs aim to capture speculative demand. Private credit leads with $12.2 billion TVL, as Centrifuge’s institutional pools slash securitization costs by 97%.

该报告强调，尽管诸如Ostium Labs之类的合成平台旨在捕获投机需求，但尽管有12亿美元的供应，例如黄金等商品与流动性差距斗争。私人信贷以122亿美元的tvl领先，因为离心机的机构池削减证券化成本为97％。

Regulatory hurdles persist, particularly for equities, but Keyrock and Centrifuge note that bipartisan U.S. legislation and European frameworks like MiCA are easing pathways. The report forecasts that total tokenized RWA assets could hit $50 billion in a 2025 bull case, fueled by institutional uptake and significant decentralized finance (DeFi) integration.

监管障碍持续存在，特别是对于股票而言，但钥匙石和离心机指出，美国两党的立法和像云母这样的欧洲框架正在放松途径。该报告预测，在2025年的公牛案件中，总体上的RWA资产可能会达到500亿美元，这是由于机构的吸收和大量分散融资（DEFI）整合所推动的。

“This movement envisions restructuring global finance by democratizing access, increasing efficiency, and enhancing transparency across asset classes,” the tokenized RWA analysis explains. “Instead of slow settlement pipelines, markets could operate on blockchain rails with near-real-time settlement and verifiable ownership records, reducing counterparty risks and back-office friction.”

“该运动通过使访问权限，提高效率和提高资产类别的透明度来设想重组全球财务，”标记RWA分析解释说。 “市场可以在近实时的定居点和可验证的所有权记录，降低交易对手风险和后台摩擦的区块链铁轨上运作，而不是缓慢的解决方案。”

With tokenized Treasuries modernizing settlements and private credit democratizing access, Keyrock and Centrifuge position 2.5 as the inflection point for blockchain’s $30B–$50B breakthrough.

随着代币化的国债现代化定居点和私人信贷将访问民主化，钥匙石和离心位置2.5作为区块链$ 30B- $ 50B突破的拐点。