According to online reports, according to Redstone, the scale of risk asset tokenization (RWA) has surged from US$5 billion in 2022 to more than US$24 billion in June 2025 (an increase of 380%), becoming the second-fastest growing area in the cryptocurrency field after stablecoins. Industry forecasts suggest that by 2030 to 2034, 10% to 30% of global assets may be tokenized. Asset tokenization has transitioned from experimental pilots to large-scale institutional adoption in 2024-2025. By December 2024, the tokenized real-world asset market will reach US$15.2 billion (excluding stablecoins) and will continue to grow, exceeding US$24 billion by June 2025, a year-on-year increase of 85%. As of June 2025, private credit has become the largest area of RWA tokenization, reaching US$14 billion, demonstrating institutional demand for the blockchain native credit market.