Platforms Must Build Liquidity to Free $320B RWA Market

Kevin Yunai, founder and CEO of RWA Inc, urged platforms to build liquidity and compliant market infrastructure so tokenized real-world assets can be traded and the market can reach $320 billion.

He drew a distinction between minting tokens and creating usable financial instruments, saying: “Simple tokenization is putting an asset representation onchain. Productive onchain finance is when that asset becomes usable: tradable, financeable, pledgeable, composable, transparent, and connected to real economic yield.”

Yunai identified tradability as the current bottleneck, noting many tokenized assets exist but lack meaningful liquidity because the market has focused on issuance tools rather than the wider infrastructure needed for active markets.

He listed specific components needed for tradability: regulated secondary markets, reliable market makers, standardized disclosures, trusted custody, verified pricing, interoperable compliance and identity layers, institutional settlement and clear redemption mechanics.

Yunai warned that without those pieces tokens risk becoming static digital certificates rather than assets investors can buy or sell with confidence.

He noted the need to combine blockchain efficiency with legal and operational disciplines, adding that blockchain provides speed and automation while real-world assets require enforceable legal documentation, custody, know-your-customer checks, reporting, valuation and redemption processes.

On sequencing, he argued access must come before lasting liquidity: tokenization can lower barriers through fractional ownership and broader distribution, but investors need trust in how assets are structured and how risks are disclosed before markets deepen.

He called for common standards on asset verification, custody, legal enforceability, valuation, disclosures, audits, KYC and AML controls, transfer restrictions, redemption rights and ongoing reporting so institutions can compare and evaluate tokenized products.

Yunai predicted platforms that control trust, distribution and liquidity will capture the most value in the RWA stack and he expects deeper secondary markets, clearer institutional standards, broader global investor access and routine transparent reporting within five years.