Real-World Asset Tokenization

Real-world asset tokenization is the issuance of on-chain tokens that represent claims on assets that exist off-chain, such as treasury bills, money market fund shares, invoices or property. The token moves at blockchain speed, but the asset itself does not: a custodian holds it, a transfer agent or issuer maintains the legal register, and redemption depends on that off-chain arrangement working. This means the honest risk questions are legal rather than cryptographic, covering who holds the asset, which jurisdiction governs the claim, and what happens in an insolvency. Most issuances are permissioned, restricting transfers to wallets that have passed identity checks, because securities rules follow the underlying instrument.