Asset (RWA) tokenization is also popular on blockchain platforms other than Ethereum.
Base, Solana, and Arbitrum have become market leaders in this expanding market and are building their tokenized asset portfolios by more than 800% over the next five years. These chains have already become essential participants, with new liquidity pools and high-profile issuers such as BlackRock, Securitize, and Wormhole joining them.
Growth of RWA on Solana, Base, and Arbitrum
Solana, Base, and Arbitrum recorded remarkable growth in RWA adoption in 2025. Specifically, Solana had 81 RWA projects, and Arbitrum had 101 types of tokenized assets. This fast growth demonstrates the transition of such chains to the success of creating tokenized assets. It is worth noting that Solana has also invested in various markets, including tokenized Pokémon cards and digital Steam items.
This can be credited to the fact that Solana was exposed to NFTs, which has led to its development into new asset classes. Base and Arbitrum are also making inroads, and their RWA offerings have been increasing substantially. Their platforms have shown that they can draw institutional and retail attention to tokenize a host of assets, ranging from stablecoins to shares and commodities.
Stablecoins Lead the RWA Surge
The leader in the RWA market is still tokenized stablecoins. Most of the growth is being driven by stablecoins that value themselves with the help of underlying assets. Nonetheless, experiments with tokenized shares and other types of assets are also underway, especially on Solana. The various types of assets under tokenization indicate the potential in the market, but the absence of a standard framework to tokenize all assets on-chain is an issue.
The assets of tokenized assets are now worth over $30 billion. The central part of this figure is private credit, which is about $17 billion. In the meantime, tokenized US Treasury bills are a large pool worth $7.8 billion, the primary purpose of which is to be a source of security and income to issuers of stablecoins.
Ethereum Still the Leader in Institutional Tokenization
Despite the steps made by Solana, Base, and Arbitrum, Ethereum still maintains its status as the major chain of institutional tokenization. Ethereum’s high level of reliability, particularly regarding outages and block generation, continues to put it at the top of the tokenization market. Although Web3 projects can also be integrated with cheaper solutions, such as Solana and Arbitrum, Ethereum security and infrastructure are vital to massive tokenization.
Ethereum, being used predominantly by institutions, is opposed to the newer chains, which are more experimental. Nevertheless, the fact that Ethereum is exposed to possible attacks or a malfunction of smart contracts is an issue, but the problem spreads to all blockchain networks.
Real-world asset tokenization is coming faster to various blockchain platforms in 2025, with Solana, Base, and Arbitrum as the leaders of the pack. Although Ethereum has continued to dominate, these newer chains provide promising opportunities for various tokenized assets, particularly in DeFi use cases. The RWAs are set to go through the future by identifying a common way of tokenization and by widening access to more types of assets.
