DeFi Assets to Rise 37x on RWA Push, Says Standard Chartered

Key Insights:

• DeFi assets could reach $2.7T by 2030, Standard Chartered says.
• Tokenized RWAs and stablecoins may move deeper into DeFi.
• Hedera leads the latest RWA development rankings

Standard Chartered has placed DeFi assets at the center of its latest digital asset outlook. The bank expects assets active in decentralized finance to reach $2.7 trillion by 2030. That would mark a 37x jump from current levels.

Geoff Kendrick, the bank’s head of digital assets research, said tokenized RWAs and stablecoins could move deeper into onchain markets. The forecast also points to a larger role for Uniswap as institutions seek trusted venues for tokenized trading.

Why DeFi Assets Could Absorb Tokenized RWAs Faster

The forecast is not just about more assets moving onchain. It is about where those assets are used after issuance. Standard Chartered expects DeFi assets to grow as tokenized RWAs, stablecoins, and crypto-native assets enter lending, trading, and settlement protocols.

Kendrick said only a small share of tokenized value currently enters DeFi. The bank estimates that only 3% of stablecoins and 10% of tokenized RWAs are now used in DeFi protocols. It expects the wider share of tokenized assets used in DeFi to rise to 30% by the end of 2030.

That shift would represent a major change in market behavior. Tokenization has often focused on bringing assets onto blockchains. Standard Chartered is now focusing on active use, which matters more for liquidity, fees, and protocol revenue.

DeFi Assets Forecast Shifts Focus from Issuance to Use

The bank has already tied tokenization to a larger market expansion. Kendrick previously forecast that non-stablecoin tokenized RWAs could reach $2 trillion by 2028. Money-market funds and U.S. equities are expected to account for a large share of that market.

The new DeFi assets forecast adds another layer to that thesis. It suggests the biggest opportunity may come from deployment, not issuance alone. A tokenized asset creates more market value when it can be borrowed against, traded, settled, or used as collateral.

Wall Street can tokenize assets without creating deep onchain markets. DeFi needs strong distribution, risk controls, and active liquidity to turn tokenized supply into daily financial activity.

Latest RWA development rankings | Source: Santiment

Santiment data also keeps the RWA theme in focus. Hedera led the latest RWA development rankings after rising from last month. That activity shows developers are still building on tokenized-asset infrastructure. Banks are also exploring the market from a capital perspective.

Uniswap’s Role in DeFi Assets Now Faces Liquidity Tests

Standard Chartered also pointed to Uniswap as a possible hub for tokenized markets. Kendrick highlighted its scale, brand, and long operating history across crypto cycles. Those traits may matter to traditional firms that want stable infrastructure before moving tokenized RWAs into DeFi.

Kendrick highlighted Uniswap as one possible hub for tokenized markets. Higher usage may help cover transaction fees and improve investors’ perception of decentralized exchanges. Kendrick suggested that stronger TradFi partnerships could help Uniswap narrow the valuation gap with large centralized exchanges.

Still, tokenization does not automatically create liquidity. Researchers have warned that the same asset can be traded across multiple chains and formats. That can split liquidity, widen pricing gaps, and increase costs for users.

Ondo Finance sales director Oya Celiktemur has also warned that tokenizing an illiquid asset does not, by itself, make it liquid. The market still needs buyers, sellers, reliable pricing, and efficient settlement. For DeFi assets, the next test is whether tokenized RWAs can move from isolated issuance into active markets with real depth.

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