Tokenization of Assets: How These 10 Crypto Projects Are Reshaping Digital Finance in 2024

The blockchain revolution isn’t just about cryptocurrencies anymore. Real-world asset (RWA) tokenization is transforming how we think about ownership, liquidity, and investment access. With the total market cap of RWA tokens exceeding $8.4 billion as of March 2024, institutional players like BlackRock are now diving in with their tokenized fund BUIDL on Ethereum, signaling that this space has matured beyond speculation into serious financial infrastructure.

But what exactly does this mean for investors and market participants? Let’s explore the top projects pushing the boundaries of tokenization of assets and reshaping the landscape.

Why Tokenization of Assets Matters Now

The ability to tokenize assets—converting real-world value into blockchain-based digital tokens—unlocks something previously impossible at scale: fractional ownership of traditionally illiquid assets. Real estate, bonds, commodities, art—anything of value can now be sliced into smaller pieces and traded 24/7 on decentralized networks.

This approach delivers several game-changing benefits:

• Liquidity Breakthrough: Assets locked in private markets can now move freely, enabling smaller investors to participate in opportunities previously reserved for institutions
• Portfolio Expansion: Geographic and asset-class boundaries dissolve; global investment becomes accessible from anywhere
• DeFi Evolution: Tokenized assets create new primitives for lending, borrowing, and yield farming strategies
• Trust Through Transparency: Blockchain records ensure immutable, verifiable ownership histories

The entry of major asset managers into this space validates what crypto builders have known for years—tokenization of assets is the future of finance.

Ondo Finance: Bridging Traditional Finance and DeFi

Ondo (ONDO) leads the charge in bringing traditional finance onto blockchain. The project offers OUSG, the world’s first tokenized U.S. Treasury product, enabling institutional and retail investors to hold Treasury exposure on-chain with liquidity benefits.

The game-changer? In March 2024, Ondo announced it would allocate $95 million of OUSG assets into BlackRock’s BUIDL tokenized fund for instant settlements. This marks the first instance of a crypto protocol directly leveraging a major asset manager’s tokenized offering—validating that the traditional finance bridge is real.

Ondo’s infrastructure includes Flux Finance, a lending protocol that uses tokenized Treasuries as collateral, showcasing practical DeFi utility. The ONDO token governs the protocol through its DAO, allowing the community to shape its evolution.

Mantra: Mainstream RWA for Emerging Markets

Mantra (OM) isn’t just another tokenization platform—it’s a Layer 1 blockchain specifically built for RWA infrastructure. After securing $11 million in funding from Shorooq Partners, Mantra positioned itself to mainstream asset tokenization in underserved regions like the Middle East and Asia.

Current OM Metrics:

• Price: $0.08
• 24h Change: +0.55%
• Market Cap: $90.07M
• 24h Volume: $460.58K

The OM token functions as both a governance and utility asset, enabling staking for yield and participation in network decisions. Mantra’s focus on developer tools and regulatory-compliant infrastructure makes it a critical piece for institutions exploring RWAs without the technical complexity.

Polymesh: Enterprise-Grade Security Tokens

Polymesh (POLYX) takes a different angle—it’s a specialized blockchain designed specifically for securities tokenization. Rather than being a general-purpose chain, Polymesh addresses the unique requirements of regulated securities: compliance, identity verification, and institutional settlement.

Current POLYX Metrics:

• Price: $0.06
• 24h Change: -1.99%
• Market Cap: $71.87M
• 24h Volume: $103.08K

The POLYX token powers the network through transaction fees, governance rights, and staking mechanisms. Its tokenomics follow an asymptotic model—controlled supply growth designed to balance incentives with long-term sustainability. For institutions moving securities on-chain, Polymesh’s regulatory-first design offers the institutional-grade infrastructure they demand.

OriginTrail: Knowledge Assets and Supply Chain Trust

OriginTrail (TRAC) tackles a different angle of the tokenization revolution—it’s building infrastructure for AI-ready knowledge assets. By integrating blockchain with knowledge graphs, OriginTrail enables trusted data exchange across supply chains, healthcare, construction, and other sectors.

Current TRAC Metrics:

• Price: $0.43
• 24h Change: -1.93%
• Market Cap: $192.33M
• 24h Volume: $39.16K
• Circulating Supply: 447.27M / 500M Total

The TRAC token, launched in 2018, powers all operations on the Decentralized Knowledge Graph. Its fixed 500 million token supply and multichain approach make it accessible across multiple blockchain ecosystems, enhancing interoperability for real-world asset verification.

Pendle: Yield Tokenization Enters RWA Territory

Pendle (PENDLE) started as a DeFi yield management protocol, but recent developments show its ambitions extending into RWAs. The project allows users to tokenize yield-bearing assets, splitting them into Principal Tokens (PT) and Yield Tokens (YT) for advanced strategy execution.

Current PENDLE Metrics:

• Price: $2.19
• 24h Change: -1.34%
• Market Cap: $370.80M
• 24h Volume: $271.52K

Recent integrations with MakerDAO’s Boosted Dai Savings and Flux Finance’s fUSDC mark Pendle’s pivot toward traditional asset yield management. By enabling separate trading of principal and yield, Pendle offers sophisticated investors granular control over their yield strategies across both DeFi and real-world asset positions.

TokenFi: No-Code Tokenization for Everyone

TokenFi (TOKEN) democratizes the entire tokenization process. Its no-code token launcher enables users to create ERC-20 and BEP-20 tokens without programming knowledge, targeting the anticipated $16 trillion RWA market by 2030.

Current TOKEN Metrics:

• Price: $0.01
• 24h Change: -5.22%
• Market Cap: $20.24M
• 24h Volume: $1.09M

The TOKEN utility token powers the platform’s ecosystem, from token creation to AI-assisted NFT generation and smart contract auditing. TokenFi’s mission to make tokenization accessible to non-technical teams positions it as a critical onramp for the next wave of RWA adoption.

Securitize: Compliance-First Digital Securities

Securitize operates as the regulatory backbone of securities tokenization. Founded in 2017, the platform evolved into a market leader—by 2022, Securitize Markets ranked among the top 10 U.S. stock transfer agents, managing 1.2+ million investor accounts.

BlackRock’s strategic investment and board placement of Joseph Chalom (Global Head of Strategic Ecosystem Partnerships) underscore institutional confidence in Securitize’s compliance infrastructure. The platform remains blockchain-agnostic while prioritizing Ethereum, giving issuers flexibility without sacrificing regulatory adherence.

Beyond the Giants: Untangled Finance, Swarm Markets, and MakerDAO

Untangled Finance launched on Celo to facilitate private credit tokenization, freshly funded with $13.5 million as of October 2023. Its focus on bringing illiquid credit assets on-chain addresses a massive gap in traditional finance.

Swarm Markets (SMT) emphasizes TradFi-DeFi bridges, boasting over $5.4 million in TVL as of March 2024. A July 2023 partnership with Mattereum strengthened Swarm’s on-chain RWA securitization capabilities.

MakerDAO (MKR), Ethereum’s oldest DeFi protocol, has quietly accumulated $2.06 billion in RWAs—representing just under 30% of its $6.6 billion TVL. Institutional borrowers stake DAI stablecoins while tokenizing Treasury bills, creating a bridge between traditional debt and DeFi liquidity.

The Market Moment

What we’re witnessing isn’t incremental progress—it’s institutional validation of a thesis that seemed fringe just years ago. The convergence of major asset managers, specialized L1 blockchains, and regulatory infrastructure creates the conditions for explosive growth.

The tokenization of assets sector moves beyond proof-of-concept into production maturity. Whether through specialized platforms like Securitize and Polymesh or through DeFi protocols like Pendle and MakerDAO, the infrastructure now exists. The remaining question isn’t whether RWA tokenization will scale—it’s how quickly institutions will move to capture the efficiency gains.

Expect 2024-2025 to bring accelerated institutional adoption, more regulatory clarity, and expanded asset classes entering the tokenization pipeline. The projects leading this charge aren’t speculation plays—they’re building the financial infrastructure of tomorrow.