Tokenization of Real-World Assets Reaches $3 Billion in Dubai, $5.6 Billion in US

Tokenization of real-world assets (RWAs) has transitioned from a speculative concept to a tangible component of the financial infrastructure by 2025. This shift is evident not in flashy headlines but in regulatory filings, institutional collaborations, and backend systems where compliance and capital intersect. Platforms driving this change are not innovating finance but interpreting it, introducing classic products like treasuries, luxury real estate, and private equity to regulated blockchains. These blockchains offer built-in characteristics such as liquidity, auditability, and composability, which were previously afterthoughts.

Securitize has emerged as a key player in the institutional RWA movement, holding three licenses—broker-dealer, transfer agent, and ATS. This foundation supports significant fund tokenizations, such as Hamilton Lane’s $5.6 billion Secondary Fund VI, which was partially launched on-chain via a Polygon-based feeder fund. The minimum investment for this fund has been reduced from $5 million to $20,000, demonstrating the compliance integrated into distribution. Securitize also supports BlackRock’s tokenized funds and allows for regulated secondary market trading, providing longevity through its integration with established norms.

In Dubai, MultiBank Group and real estate developer MAG announced a $3 billion luxury real estate tokenization transaction. Properties like The Ritz-Carlton Residences are now represented on-chain through MultiBank.io, powered by Mavryk’s infrastructure for compliance issuance and lifecycle management. This effort is distinguished by its asset size and MultiBank’s compliance with 17 worldwide regulatory regimes, making it a significant player in the tokenized real estate market.

Plume Network is developing infrastructure for the next generation of asset classes, including commodities and ESG assets. In 2024, Plume secured $20 million in Series A investment and has over 180 projects on its platform. It supports XAUm, a gold-backed coin created by Matrixdock and stored in Brink’s vaults. XAUm is programmable, interchangeable collateral that can be utilized for lending, payments, and settlements. Plume’s RWA-native chain is designed with institutions in mind, utilizing Fireblocks MPC custody and optimized for carbon credit flows, ESG-linked bonds, and sustainable commodities markets.

Quai Network offers a unique perspective by integrating public blockchain architecture with institutional integration. Its “Proof-of-Entropy-Minima” consensus allows for scalable parallel execution. In collaboration with Frictionless Markets, Quai is introducing tokenized Treasuries and MMFs to the blockchain, providing institutions with compliant access to stable return instruments. Quai’s energy derivatives and Liquid Mining Tokens offer a glimpse into the future of energy-backed digital money, with MMFs poised to anchor the ecosystem’s yield layer.

T-RIZE, based in Montreal, is transforming the housing sector in North America. In 2024, it tokenized a $300 million housing project in Quebec, with 960 units backed by ERC-3643-compliant securities. The aim is to achieve liquidity, quicker capital deployment, and ESG-related incentives. T-RIZE connects blockchain-native capabilities to traditional real estate financing, with MOUs totaling $2 billion in pipeline projects and secondary trading assistance from SEC-registered ATS providers. Its use of tokenized carbon credits provides a level of sustainability that is uncommon in property construction.

What distinguishes these platforms in 2025 is not wild statements but actual traction. Millions of transactions and billions of tokenized assets demonstrate the integration of conventional financial language with Web3 tooling. The true challenge—and opportunity—is to integrate tokenized assets into the global financial system. These platforms are no longer considered early adopters; they are early infrastructure, quietly rebuilding global finance through tokenized RWAs.