$BNB As of July 2025, the global RWA (real world asset tokenization) market size has exceeded **US$25.7 billion**, with a half-year growth rate of more than **260%**. The core performance is as follows:

1. **Asset structure**: Financial assets (treasury bonds, credit, etc.) account for **92.7%**, and tangible assets (real estate, commodities) account for **7.3%**.

2. **Regional competition**: Hong Kong (transparent rules), Singapore (flexible technology), and the Middle East (energy sovereignty) compete for the RWA hub status.

3. **Institutional entry**: BlackRock, Franklin Templeton, etc. launched on-chain treasury bond funds, and traditional finance accelerated its layout.

4. **China practice**: New energy projects such as GCL Solar (260 million yuan) and Langxin Charging Pile (100 million yuan) were financed through RWA.

**Risks and challenges**: Regulatory fragmentation may amplify cross-border capital fluctuations, and the dominance of US dollar assets may strengthen credit expansion.