Industry leaders discussed the demand for tokenized real-world assets (RWA) during a Consensus Hong Kong 2026 panel with Evan Auyang (group president at Animoca Brands), Christian Rau (senior vice president of digital assets and blockchain at Mastercard), Nicola White (vice president of crypto institutions, Robinhood) and moderator Marcin Kazmierczak (co-founder of RedStone).
The panel echoed BlackRock COO Rob Goldstein’s bold claim: digital ledgers are the most exciting development in finance since double-entry bookkeeping 700 years ago.
Today, tokenized real-world assets (RWA) remain firmly institutional territory. Demand centers around tokenized money market funds, US Treasuries, stablecoin integrations, and collateral optimization products like BlackRock’s BUIDL and Robinhood/Bitstamp offerings highlight the trend.
Retail participation is delayed, with few attendees raising their hands to confirm they have tokenized RWA in their wallets. Panelists pointed to Europe’s clear regulations as a launching pad for tokenized listed stocks, while private credit, real estate, art and private equity show strong future potential, especially as companies stay private longer and demand for fractional 24/7 access grows.
The consensus: RWAs have gone from hype to becoming a real utility for institutions. The next wave of mainstream retail addition could unlock trillions in illiquid markets once barriers fall.
