**Standard Chartered Predicts Tokenized RWAs Market to Reach $2 Trillion by 2028, Led by Ethereum and Stablecoins**
Standard Chartered’s head of digital assets research has made a bold forecast for the future of tokenized real-world assets (RWAs). The firm predicts that the market capitalization of on-chain RWAs could surge to $2 trillion by 2028 — an increase of more than 5,600% from the current $35 billion.
### Ethereum to Dominate Tokenized Real-World Assets
According to Geoffrey Kendrick, Standard Chartered’s head of digital assets research, Ethereum will remain the dominant platform driving this tremendous growth. Kendrick highlights Ethereum’s established reliability and strong network effects as critical factors underpinning its leadership in the tokenization space.
The report projects that tokenized money market funds and listed equities alone could each expand to $750 billion markets by 2028. Other asset classes, including on-chain private equity, commodities, and corporate debt, are also expected to experience significant growth.
Kendrick also emphasized the pivotal role of stablecoins in this expansion. The rise of stablecoins has created essential conditions for decentralized finance (DeFi) to flourish — such as increased public awareness and enhanced on-chain liquidity. These developments facilitate seamless on-chain lending and borrowing, especially in fiat-pegged products.
However, despite this optimistic outlook, Kendrick warns of regulatory risks. A lack of clear regulatory guidance in the U.S. by the 2026 midterm elections could potentially slow down the growth of tokenized assets.
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### Changpeng Zhao’s Lawyer Demands Retraction from Senator Elizabeth Warren
In separate news, Changpeng Zhao’s (CZ) lawyer has called on Senator Elizabeth Warren to retract statements made following Zhao’s controversial presidential pardon by former President Donald Trump.
Last week, Senator Warren criticized the pardon on the social media platform X (formerly Twitter), alleging that Zhao had pleaded guilty to money laundering charges—a claim Zhao’s legal team vehemently denies.
Teresa Goody Guillén, Zhao’s attorney, issued a formal letter demanding that Warren apologize for what she described as “defamatory statements.” Guillén clarified that Zhao never pled guilty to any money laundering charges.
Zhao, who denies having lobbied for the pardon, continues to face scrutiny over potential ties between his former company Binance and the Trump-backed decentralized finance project World Liberty Financial.
The legal dispute has further spotlighted Zhao’s pardon, raising important questions about political and financial influences. Reports suggest Zhao’s legal team may pursue a libel lawsuit if Warren does not issue the requested retraction.
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### Ether.fi DAO Proposes $50 Million Buyback Plan to Stabilize ETHFI Token
The Ether.fi DAO has unveiled a proposal for a $50 million buyback program aimed at supporting the price of its ETHFI token. If approved, the Ether.fi Foundation would buy back ETHFI tokens from the open market whenever the token price falls below $3.
This move follows a sharp decline in ETHFI’s value, which has dropped over 89% from its peak earlier in 2024.
Ether.fi is among several DeFi projects engaging in token buybacks, a strategy increasingly popular across the sector. Notable projects like Aave, Uniswap, Hyperliquid, and Pump.fun have already implemented similar repurchase programs.
Altogether, token buybacks have totaled over $1.4 billion in 2024, serving as a mechanism to support token prices and reward long-term holders during periods of market volatility.
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### Ethereum’s Fusaka Upgrade Scheduled for December 2025
Ethereum developers have set December 3, 2025, as the official date for the much-anticipated Fusaka upgrade.
Fusaka will be a major hard fork focused on enhancing the security, sustainability, and scalability of Ethereum’s core network and its Layer 2 ecosystem.
The upgrade has undergone multiple successful testnet deployments, including on Hoodi, Holesky, and Sepolia, signaling readiness for the mainnet launch.
Among its key features, Fusaka introduces several Ethereum Improvement Proposals (EIPs) with a particular emphasis on optimizing the PeerDAS protocol.
This upgrade represents a vital step forward as Ethereum continues to evolve in response to growing demands for decentralized applications (dApps) and blockchain-based financial services.
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**Stay tuned for more updates on Ethereum’s developments and the evolving landscape of tokenized assets.**
https://coincentral.com/standard-chartered-sees-ethereum-driven-tokenized-rwas-growing-to-2t-by-2028/
