How does the trillion-dollar market go on-chain? Gate TradFi leads the golden age of RWA tokenization

When the global stock market total market capitalization surpasses 126 trillion USD, fixed income securities reach a stock of 145 trillion USD, and OTC derivatives nominal principal operates at a level of 846 trillion USD, a startling fact emerges: the traditional capital market size has already reached the trillion-dollar level. In comparison, the total on-chain RWA (excluding stablecoins) as of March 2026 is 23.6 billion USD, with an on-chain penetration rate of less than 0.02%. This 0.02% gap versus 100% represents a historic opportunity that Gate TradFi is actively filling.

Market Size That Cannot Be Ignored

How large is the total size of the global traditional financial markets? By the end of 2024, the global fixed income securities stock is approximately 145.1 trillion USD, the total market capitalization of global stocks is about 126.7 trillion USD, and global total debt approaches 346 trillion USD, which is over 300% of global GDP. These figures reveal a trillion-dollar-scale traditional financial market that is poised to unleash liquidity and transfer value through blockchain technology. However, by 2026, the total locked value (TVL) of on-chain real-world assets (RWA) has surpassed 21.35 billion USD, but compared to the vast foundation of traditional financial markets mentioned above, the penetration rate of tokenized assets on-chain remains minuscule.

Taking the fixed income market as an example, on the Ethereum blockchain alone, the total tokenized US Treasury fund exceeds 22.5 billion USD, and the overall market cap of tokenized Treasuries climbed to 15.2 billion USD in early May. Although the growth rate is astonishing, these figures are still far from reaching the trillion-dollar traditional asset market. These data clearly demonstrate the enormous growth potential of the RWA sector and reveal a definitive trend of the financial world migrating onto the chain.

Institutional Entry: From BlackRock to Wall Street

In the past six months, the participation of traditional financial institutions in RWA tokenization has undergone a qualitative change. BlackRock’s tokenized money market fund BUIDL has exceeded approximately 2.63 billion USD in market cap, and has partnered with institutions like Standard Chartered and OKX to launch a tokenized US debt collateral framework, allowing institutional clients to use BUIDL as collateral for trading. This collaboration marks the first time that a globally systemically important bank provides custodial services for RWA tokens.

More interestingly, the largest buyers of BUIDL are not traditional Wall Street institutions, but DeFi protocols—including Ethena, Ondo, Frax, and Spark—using BUIDL as a “building block” for their USD products. This reveals a new distribution channel for tokenized assets: DeFi protocols are becoming the core entry point for traditional financial assets entering the chain.

Meanwhile, tokenized US Treasuries added 1.06 billion USD in the first four months of 2026, with Circle’s USYC leading at 2.91 billion USD. The top ten tokenized US Treasuries have a combined market cap of over 13.9 billion USD, with 71 different tokenized treasury assets circulating on-chain. Behind these figures is an unprecedented acceleration of traditional financial assets migrating onto the chain.

Gate’s Multi-Dimensional Layout: RWA Bridge and All-Scenario Trading System

In this trillion-dollar market migration onto the chain, Gate is building a complete gateway through two core pathways: one is tokenized RWA products, and the other is a newly upgraded comprehensive TradFi trading platform.

RWA Asset Gateway: Enabling On-Chain Holding of Real Yields

Gate’s GUSD is a dedicated yield certificate for RWA financial products, backed 100% by real-world assets (such as US Treasuries), providing users with stable and predictable traditional returns. Unlike the yield-driven stablecoins driven by crypto market trends, GUSD’s yield rate is anchored to US Treasury rates, with slow and predictable fluctuations, offering highly certain cash flows. Users can redeem 1:1 at any time, with quick redemption and funds arriving within five minutes.

Additionally, Gate has launched the Ondo section, offering tokenized stocks and ETFs, allowing users to buy fractional shares and enjoy dividend reinvestment, providing a complete economic exposure. Gate Pre-IPO enables users to participate in early valuation changes through crypto-native derivatives before traditional public trading. Meanwhile, the Gate RWA section continuously screens and lists top-tier RWA projects, offering diversified on-chain traditional assets such as treasury tokens and commodity tokens.

Gate’s All-Scenario TradFi Trading Platform: Three Core Types, One-Stop Multi-Strategy Trading

Starting today, the “TradFi” section within the Gate platform will be officially upgraded from a single product concept to a comprehensive trading platform, covering three core trading types: CFD contracts, perpetual contracts, and spot tokens, forming a complete multi-asset, multi-strategy trading system to meet diverse user needs in market judgment, risk appetite, and capital allocation.

• CFD Contracts: Derivative trading based on price difference settlement, allowing two-way trading without holding the underlying asset, supporting leverage, suitable for multi-market linkage and strategic trading. The previous “TradFi” CFD product will be renamed “CFD Contract” to enhance industry recognition and user clarity. The trading interface and documentation will gradually unify as “CFD Contract,” with existing positions, order history, and trading records unaffected, and product features, trading rules, and fee structures remaining unchanged.
• Perpetual Contracts: Derivative contracts based on cryptocurrencies, with no expiry date, anchored to spot prices via funding rate mechanisms, supporting high-frequency and trend trading strategies.
• Spot Tokens: Direct buying and holding of cryptocurrencies, suitable for long-term allocation and value investing, and participating in on-chain and ecosystem-related applications.

This upgrade means that whether you are a long-term investor seeking stable cash flow, a strategy trader engaging in multi-market linkage via CFD contracts, or a trend player pursuing high-leverage long/short battles with perpetual contracts, Gate TradFi provides a unified, clear, and professional entry point.

The Future of RWA: From Hundreds of Millions to Trillions

Looking ahead, the growth potential of RWA tokenization remains vast. HTX’s 2026 white paper predicts the RWA market could reach 340 billion USD. With the successive introduction of regulatory frameworks such as the US “GENIUS Act” and “CLARITY Act,” stablecoins have been officially recognized as regulated digital currencies, paving the way for large-scale RWA growth.

Data shows that tokenized Treasuries had a market cap of less than 4 billion USD at the start of 2025, grew to about 8.9 billion USD by early 2026, and surpassed 15.2 billion USD in May, achieving nearly fourfold expansion in just 16 months.

Summary

The trillion-dollar traditional financial markets are entering the chain at an unprecedented speed. From BlackRock’s BUIDL surpassing 2.6 billion USD in market cap, to tokenized Treasuries exceeding 15.2 billion USD, and the total on-chain RWA value surpassing 23.6 billion USD and heading toward hundreds of billions, the integration of TradFi and on-chain finance is no longer just a concept but a reality happening now.

Gate is not only a witness to this trend but also a key driver: through RWA financial products, tokenized stocks, and Pre-IPO access to real assets, enabling users to hold traditional yields with low barriers; simultaneously, the newly upgraded Gate TradFi comprehensive trading platform combines CFD contracts, perpetual contracts, and spot tokens into one, satisfying various strategies from hedging and speculation to long-term allocation. Whether you are a conservative investor seeking stable cash flow or an aggressive trader pursuing high leverage and long/short battles, Gate is your best portal into the trillion-dollar on-chain market.