RWA Tokenization Hit Scale

RWA tokenization crossed a threshold. It's no longer just experiments and pilots. Billions in real assets live on-chain now with proper legal frameworks backing them. Tokenized treasuries were the gateway drug. Low risk, clear regulatory status, easy to understand. Institutions dipped their toes and liked what they saw. The on-chain settlement was just better than traditional rails. Private credit came next. Yields that DeFi couldn't match organically. Real businesses borrowing at reasonable rates. The underwriting still happens off-chain but the capital formation and trading is on-chain. The legal infrastructure matured quietly. SPVs that courts actually recognize. Custody solutions that satisfy regulators. Compliance frameworks that work across jurisdictions. All the boring stuff that makes real adoption possible. I'm most interested in the secondary markets forming. Tokenized assets can trade 24/7 with instant settlement. Liquidity for previously illiquid assets. Price discovery that never sleeps. The oracle problem is the main unsolved issue. On-chain assets tracking off-chain reality requires trust in data providers. Some solutions are better than others but none are trustless yet.