Standard Chartered published a research note this week projecting that tokenized assets will hit $4 trillion by 2028. The bank says the growth will fuel demand for blockchain-native lending and trading infrastructure—a bet that traditional finance's migration on-chain is accelerating.
The $4 trillion target
The figure is ambitious. It suggests that tokenization—turning real-world assets like bonds, real estate, or commodities into digital tokens on a blockchain—could capture a meaningful slice of global asset markets in under two years. Standard Chartered didn't break down the forecast by asset class, but the projection signals where one of the world's largest banks sees the puck going.
Why lending and trading stand to gain
Tokenized assets aren't just static ledger entries. They can be used as collateral, traded in secondary markets, or programmed with smart contracts. That creates a natural pull for lending platforms and trading venues built natively on blockchain rails. The bank's report argues that as more assets become tokenized, the demand for infrastructure that can handle collateral management, automated settlements, and liquidity pools will surge. Existing DeFi protocols could benefit, but so could regulated exchanges and custodians upgrading their systems.
Infrastructure competition heats up
The projection lands at a time when several blockchain projects and institutional platforms are racing to build tokenization rails. Some focus on private permissioned networks; others on public chains. Standard Chartered itself has been active in the space—it launched a tokenization platform for digital assets earlier this year. The $4 trillion estimate adds a concrete target for these efforts. If the bank is right, the infrastructure layer needs to be ready well before 2028.
The report doesn't specify which regions or asset classes will lead. But it gives the industry a number to measure against. For builders of lending and trading infrastructure, the clock is ticking.
