Australian virtual currency exchange $BTC Markets has notified the Australian Securities and Investments Commission, the country’s securities regulator, of its intention to apply for a market license to offer regulated tokenized real-world assets (RWAs).
“Our plan is to acquire the licensing infrastructure that will allow us to make certain types of tokenized assets publicly available and available,” he said. $BTC Markets CEO Lucas Dobbins said Monday.
The vision, he added, is a world where tokenized stocks, bonds and real-world assets are traded in parallel with cryptocurrencies, where markets operate continuously and payments are instantaneous.
“The roughly $26 billion of tokenized assets on-chain today is really just a proof of concept,” Dobbins told Cointelegraph.
He added that even conservative estimates suggest the tokenization market could reach around $2 trillion by 2030, while other firms such as Boston Consulting Group estimate the opportunity to be as high as $16 trillion.
“What’s changed is that this is no longer a theoretical thing. Financial institutions like BlackRock, Goldman Sachs, and JPMorgan have already launched physical products.”
$BTC The market aims to join the likes of Kraken and Robinhood, which began offering tokenized RWA in 2025.
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American cryptocurrency exchange Kraken began offering tokenized stocks through a new platform called xStocks in June 2025.
On March 5th, the platform launched xChange, an on-chain trading engine designed to facilitate trading of tokenized stocks across the Ethereum and Solana networks.
Robinhood also announced a tokenized stock trading platform for European markets in 2025.
Related: Tokenized goods market rises to $7.7 billion, crypto exchanges rise
Intercontinental Exchange, owner of the New York Stock Exchange, announced in January that it was developing a platform to support trading in tokenized securities, including stocks and ETFs.
Nasdaq also proposes to integrate tokenized versions of stocks and ETPs into existing trading infrastructure.
Meanwhile, in December, Coinbase announced plans to launch Coinbase Tokenize, an institutional platform designed to support the issuance and management of tokenized RWA.
RWA tokenization opportunities in Australia
In Australia, Dobbins continued, the tokenization market could generate around A$24 billion (about $16.8 billion) in annual economic benefits, equivalent to around 1% of GDP, according to research by the Digital Finance Cooperative Research Center.
“On the current trajectory, only about $1 billion of this could be captured by 2030, highlighting an opportunity. Unlocking it will require a licensed market infrastructure that allows tokenized assets to be traded within a trusted regulatory framework,” he added.
Mr Dobbins said Australia had “many of the structural drivers needed for implementation, including strong regulation, strong capital markets and one of the largest pension systems in the world”.
“As regulatory clarity improves and infrastructure develops, Australia has the potential to play a meaningful role in the next phase of tokenized financial markets.”
“The first use cases are likely to emerge in areas such as private markets, infrastructure investment, and capital distribution, where tokenization increases efficiency and access,” he said.
Tokenized RWA TVL is peaking despite bear market
According to a report by RWA.xyz, the current total on-chain tokenized RWA is $26.5 billion, with Ethereum holding the largest share of the tokenized RWA market at 57.4%, excluding layer 2 and EVM platforms.
Despite the crypto bear market, the on-chain value of RWA is at an all-time high. Source: RWA.xyz
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