DigiTalk Podcast EP36 Recap — RWA in Motion Redefining Global Market Access
In DigiTalk Episode 36, “RWA in Motion: Redefining Global Market Access”, builders shared their perspectives on how tokenization is reshaping access to traditional assets, with tokenized US stocks highlighted as a gateway example.
Introduction
Sentient
Sentient is building a unique ecosystem that combines AI agents, decentralized storage, and edge-powered infrastructure in a permissionless way. Instead of intelligence being locked inside centralized platforms, Sentient makes it ownable. Users can deploy agents, use their outputs, and actually own the underlying logic as digital assets.
This flips the model from renting intelligence to truly participating in it. Sentient’s vision is to empower developers and communities with a living, composable network where intelligence is openly accessible and monetizable.
SuedeAI
SuedeAI is focused on empowering creators through no-code smart contract tools. Recently partnering with ChainGPT, the project enables artists without coding knowledge to create contracts that distribute royalties, integrate AI-generated songs, and secure payments within their royalty hub ecosystem.
Their approach highlights how digitized intellectual property can become a leading category of real-world assets. By lowering technical barriers, SuedeAI allows musicians and creators to directly capture and protect value in innovative ways.
GoMining
GoMining is the world’s largest platform for tokenized Bitcoin mining, now serving over 4 million users with 10 million terahash of mining power. The company has already distributed more than 500 million dollars worth of Bitcoin through its digital miners, which are NFTs backed by real hashrate and energy infrastructure.
By tokenizing productive computing power, GoMining transforms Bitcoin mining into a form of real-world asset. It gives users exposure to mining yields without the operational complexity, bridging global access to a traditionally capital-intensive industry.
LERAX
LERAX positions itself as a no-hype, pure RWA project with a sharp focus on real estate tokenization. They emphasize tackling one of the world’s largest asset classes, a market exceeding 15 trillion dollars, and bringing property-based assets on chain in a secure and transparent way.
Their mission is to help unlock the full potential of real-world asset tokenization by focusing on practicality, trust, and scalability. LERAX aims to simplify access to real estate while avoiding unnecessary speculation or hype.
BitUSD
BitUSD is an over-collateralized, crypto-backed stablecoin protocol that also accepts real-world assets as collateral. The platform allows users to deposit assets such as U.S. Treasuries, earn yield, and simultaneously unlock liquidity without selling.
Their latest version introduces permissionless collateral listing, giving any RWA issuer the chance to integrate. With BitUSD, holders of traditional assets gain access to instant, decentralized credit, bridging traditional value with DeFi liquidity.
Blocksquare
Blocksquare, founded in 2018, provides the infrastructure for tokenizing real estate. The platform has already enabled over 200 million dollars worth of property assets to go on chain, supported by 17 marketplace operators worldwide.
Their mission is to make real estate ownership accessible to anyone with an internet connection. By lowering barriers to entry and creating transparent, tradable property shares, Blocksquare aims to redefine one of the world’s largest asset classes for the Web3 era.
Q1: Tokenized US stocks have become a hot topic recently. What’s driving the sudden momentum, and how do you see them shaping the perception of RWA for both traditional investors and crypto traders?
Sentient
I think the momentum behind tokenized US stocks is being driven by both market timing and investor psychology. On the timing side, we’ve seen traditional equity markets hold strong while crypto markets remain volatile, so tokenization is emerging more like a bridge. It lets crypto traders access assets that feel more stable without leaving the Web3 environment. On the psychological side, US top players like Apple, Tesla, or Microsoft carry global brand recognition. When these names appear in tokenized form, they instantly lower the mental barrier for newcomers who might not fully trust crypto-native tokens but recognize the value of blue-chip equities.
For traditional investors, this is equally significant. Many institutions see RWA as Treasuries or real estate packaged into tokens, but tokenized stocks make the idea very concrete. They’re looking at assets they already understand, just wrapped in new rails that allow 24/7 trading, fractional ownership, and global access. So I believe tokenized equities bring credibility for TradFi and familiarity for crypto, positioning themselves as the gateway product that could mainstream RWA adoption.
LERAX
I agree with much of what has been said. Tokenization itself is always a good word in the RWA space, provided it’s used in the right way. If assets like real estate or equities are put on chain, it’s much harder to falsify or manipulate ownership, unlike in traditional systems where courts or governments can confiscate or disrupt holdings. Putting them on blockchain gives clarity and permanence, which is exactly what we want to push forward.
From my view, tokenized stocks, especially US stocks, are a good step because they’re familiar and less intimidating than more exotic commodities. This familiarity builds trust and shows a clear practical use case for blockchain beyond speculation. That’s why I say we should root for the maximum tokenization possible — whether it’s equities, housing, or other forms of RWA — because it gives us the foundation for adoption and real-world impact.
GoMining
Great points already. If I add on, I’d zoom into why it’s US stocks specifically gaining momentum now. Tokenized equities have existed for years, but they remained niche. Now we see big players stepping in — Nasdaq filed with the SEC for tokenized securities, and that’s a strong signal. One reason is regulatory sentiment: the US has become more open, with the SEC and FINRA more accepting, and that gives large TradFi institutions confidence. Another reason is the success of products like BlackRock’s IBIT Bitcoin ETF, which showed there is demand for tokenized exposure.
So now tokenized stocks are coming into the spotlight. They’re easier to access, more liquid than traditional trading governed by market hours, and issuers can reach untapped markets. I believe we’ll see an explosion of tokenized equities, followed by harder-to-tokenize illiquid assets like real estate, commodities, and even exotic products such as hash rate, which is what we do at GoMining. So yes, this is just the beginning.
SuedeAI
I think RWAs are catching momentum because people are starting to understand how broad the category really is. It’s not only physical assets like gold or real estate, which need custodians, but also digital-native assets like intellectual property. Those are easier to tokenize because they don’t require physical custody. That’s why I see IP and similar assets as the first wave of RWAs. They’re real world in value, even if not physical, and tokenization gives them a market structure.
It also lowers barriers for investors. For example, not everyone can afford a vintage guitar worth hundreds of thousands of dollars, but if it’s tokenized, anyone can participate in that market. This opens up opportunities for people to put their money into areas they believe in, at smaller scales. I think that’s why tokenized stocks are part of the story: they expand the definition of RWAs and help people see that the category is wider, more accessible, and very practical.
Blocksquare
I think the direction the world is going in is toward investors having everything in one place. If all assets are tokenized, you can see your portfolio live in a wallet — crypto, real estate, gold, and stocks — without switching platforms. That’s the future: ease of monitoring and managing your portfolio in real time. This simplicity is important for regular individuals, just as it was individuals who pushed Bitcoin forward in its early days, not institutions.
Tokenized stocks are part of that journey. Yes, there’s still a custodial element today, but the future is native tokenization, where large companies issue directly on chain. That will bring more transparency and fewer intermediaries. And when that happens, tokenized equities won’t just be a niche experiment — they’ll be a central component of a unified, user-friendly portfolio that blends TradFi and Web3.
BitUSD
For me, tokenized US stocks are another example of how RWAs make intangible concepts more relatable. When people see assets they already know, like equities, packaged in token form, it validates the idea of RWAs. It shows them this isn’t just theory or exotic structures — it’s the same things they already value, now tradable 24/7 and usable in DeFi.
That familiarity is key. Our work with collateralized assets is built on the same principle: people want to keep exposure to something they trust, like Treasuries, but also unlock liquidity through tokenization. Tokenized stocks show both retail and institutions how that logic works. They bridge the perception gap and build confidence that RWAs can serve real purposes beyond speculation.
Q2: Beyond stocks, RWA covers a wide range of assets like treasuries, credit, real estate, and even commodities. Which of these categories do you believe has the most potential to scale on-chain, and what makes them compelling?
BitUSD
In my opinion, we’re still very early in the RWA journey, and the categories will remain fragmented for the next few years. But the clearest opportunity right now is short-term US Treasuries. They are globally liquid, low volatility, easy to understand, and predictable in terms of yield. For example, you already earn around 4% from a Treasury bill, and tokenization lets you leverage it without selling, making it accessible as collateral for loans. That combination of safety, scale, and liquidity makes Treasuries the leading candidate for tokenization.
Another area I see as a hidden gem is invoice-backed credit obligations. These are short-term, usually 30-day commitments from large companies to pay salaries or suppliers, with very low risk of default. They are currently underexplored but highly suitable for tokenization. Invoices already have strong tracking records, and if tokenized properly, they could provide investors with new yield opportunities. So for me, Treasuries are the first big reality, and invoice-based credit could become the next major wave.
Sentient
I think in the short to medium term, Treasuries are the most practical front runner. The US Treasury market is the largest and most liquid in the world, and tokenization solves obvious challenges there by opening global access without the need for complex intermediaries. For investors in emerging markets, this means exposure to safe yields they could never normally reach in their domestic systems. For institutions, tokenization improves settlement, reporting, and even DeFi composability.
Looking further ahead, I see real estate as the “dark horse.” It’s illiquid, fragmented, and hard to access globally, but tokenization could unlock fractional ownership and secondary markets for property shares. Imagine being able to buy into a New York apartment building or a Dubai office tower with the same ease as buying an ERC-20 token. That’s transformative. Commodities and credit are also interesting, but they face tougher regulatory and structural hurdles.
LERAX
I would also point to Treasuries as a prime candidate, especially in the current high-interest environment. They offer yields of around 5%, which is very compelling compared to near-zero savings accounts or the risky yields of some DeFi farms. Plus, Treasuries are already digital and standardized, which makes them easier to tokenize than something like an apartment building. The liquidity is massive, and the value flowing on chain could be enormous.
Real estate, though, is still a close second for me. The market is gigantic, but it will take longer to mature. It requires solving more complex issues of ownership, regulation, and structure. That said, once real estate begins scaling on chain, it has the potential to dwarf other categories simply because everyone interacts with it in daily life. For now, I root strongly for short-term credits and Treasuries, but real estate remains the long-term giant.
GoMining
I agree with the earlier speakers that the adoption curve depends on liquidity and product simplicity. Stablecoins were essentially the first RWAs, because they met a clear need and were easy to implement. The same logic applies to Treasuries and short-term debt products — they’re liquid, standardized, and in high demand. These are the most obvious categories to scale first.
In the long run, however, real estate stands out because of its sheer market size, worth over $200 trillion globally. It’s harder to tokenize because of fragmentation and regulation, but the upside is enormous. If we follow the progression — stablecoins, then debt and Treasuries, then real estate — we’ll see RWA adoption build layer by layer. The key is starting with categories where demand already exists and the barriers to tokenization are lower.
Blocksquare
Real estate is definitely our focus because of its massive potential. Unlike other assets, every single person in the world interacts with real estate in some form — whether as a tenant, landlord, or owner. That universal familiarity is a huge advantage. It means people already understand the underlying value, just as they understood fiat currency when stablecoins appeared. Real estate has the same natural attachment for individuals.
It’s true that tokenizing property comes with challenges, but it’s not impossible. If a property is owned outright, it can be tokenized in weeks. The bigger problem is traditional financing — mortgages and banks that block others from placing liens on titles. That’s why collaboration between stablecoin issuers and real estate tokenization protocols is key. By repackaging mortgages and restructuring the capital stack, we can bring more real estate on chain. It’s a huge opportunity once these barriers are solved.
SuedeAI
I think people sometimes forget that RWAs are not limited to physical assets like gold or real estate. Digital-native assets, such as intellectual property, are much easier to tokenize because they don’t require custody in the same way. That’s why I believe IP and similar categories will form the first wave of RWAs. They are real in value, even if intangible, and they naturally fit into tokenization models.
At the same time, this opens up access to entirely new markets. For example, collectibles or creative rights that were previously locked to wealthy individuals can now be fractionally owned by anyone. The scalability here comes from lowering the barrier to entry and broadening participation. So while Treasuries and real estate are compelling in scale and familiarity, I think IP and other digital-first assets will quietly grow in parallel because they avoid many of the physical-world frictions.
Q3: From the user side, what’s the real appeal of RWA today, is it access to assets they normally can’t reach, the opportunity for yield, or simply diversification? How are different types of investors approaching this space?
BitUSD
From our perspective, the main appeal for users is liquidity without having to sell the underlying assets. Traditional RWA holders, like people with Treasury bills, can’t easily unlock capital unless they sell. With tokenization and our CDP model, they can deposit Treasuries, keep earning their 4% yield, and still get a loan instantly. That means they maintain exposure while gaining access to liquidity, which is powerful for users who want flexibility.
Different types of investors approach it in different ways. Retail users see it as a chance to put their idle stablecoins or savings into something safer and yield-bearing, while institutions look at operational efficiency. They want permissionless, trustless mechanisms to leverage their existing assets. So I’d say the appeal is a mix: access for retail, liquidity for asset holders, and efficiency for institutions.
Sentient
For retail investors, I think the appeal is about access and stability. Tokenization lets them buy into recognizable assets like Treasuries or equities in fractional amounts, which was impossible before. It lowers the barrier to entry and makes them feel safer compared to pure crypto tokens. On the institutional side, the appeal is efficiency: faster settlement, easier reporting, and new ways to integrate with DeFi.
I’d also highlight diversification. Users can hold a portfolio of crypto-native assets alongside RWAs in the same wallet. That’s appealing because it merges familiarity with innovation. Traditional investors see a bridge into crypto without having to jump into highly volatile assets, while crypto-native users see a way to stabilize their holdings. So the appeal varies, but overall it’s about trust, access, and new opportunities.
LERAX
In my opinion, the appeal is access to assets that were previously restricted. If you’re in a country where the government or banking system can confiscate or block your equities or property, putting those assets on chain makes them much harder to manipulate. That sense of permanence and security is something users really value.
At the same time, yield is clearly a big driver. In a high-interest environment, tokenized Treasuries or credit instruments offer attractive returns compared to bank accounts or unstable DeFi farms. For crypto-native users, diversification into these stable RWAs is appealing, while traditional investors see tokenization as a way to modernize assets they already know. So I think the appeal is a combination of security, yield, and access.
GoMining
From our side, users are drawn to the simplicity and new opportunities tokenization brings. For example, with tokenized mining power, they can participate in Bitcoin mining with as little as $25, something that used to be impossible. That democratization is the same principle behind all RWAs — giving everyday people access to markets that were once reserved for institutions or the wealthy.
Yield is also important, but I think accessibility comes first. Investors like the idea of being able to diversify into things like mining power, Treasuries, or real estate without huge upfront costs or complex processes. Institutions, meanwhile, are starting to notice efficiency gains from tokenization. So user appeal is multi-layered, but access and simplification are central.
Blocksquare
For real estate specifically, the appeal is that people already understand it. Everyone interacts with real estate in some form, so owning a fraction of a property through tokens feels natural. Users can invest in assets like apartments or office buildings that would normally be far out of reach. That access, combined with the security of knowing real estate is a stable and familiar asset, is very powerful.
Diversification is another part of the appeal. Investors can hold real estate tokens alongside crypto, gold, and equities all in one portfolio. It makes asset management simpler and more transparent. Institutions may focus on efficiency and scale, but for individuals the big attraction is the ability to participate in markets they were previously locked out of, with smaller amounts and fewer barriers.
SuedeAI
I think the real appeal for users is participation in markets that were previously closed. For example, an artist’s royalties or IP rights could only be monetized by a few insiders before. Now, with tokenization, anyone can buy a share and support creators while benefiting from the growth of that IP. This opens new opportunities that feel more personal and accessible.
It’s not just about yield, although that matters too. It’s about giving users the ability to put their money into things they believe in, whether it’s music, collectibles, or real estate. Different investors approach it differently: retail users enjoy the novelty and accessibility, while institutions see a new structure for packaging and distributing assets. But across the board, the appeal is lower barriers and more direct participation.
Q4: The concept of bringing real-world value on-chain sounds straightforward, but in practice there are challenges like custody, compliance, and trust in settlement. How do you think projects and platforms can address these issues without losing the advantages of Web3?
BitUSD
For us the challenge has always been how to allow RWA holders to access liquidity without selling and without adding heavy processes like KYC that slow everything down. Our answer is to design a CDP model that is overcollateralized and permissionless. Instead of relying on traditional banks or custodians, users deposit real-world assets like Treasuries and mint our stablecoin directly. The blockchain handles settlement instantly, and collateral remains transparent on-chain. That way we preserve the speed and openness of Web3 while still tying it to assets people trust.
At the same time, we know compliance and regulation can’t be ignored. The way forward is to build protocols that can plug into traditional standards when needed, but keep the user experience Web3-native. For example, permissionless collateral listing is coming in our next release. That lets anyone onboard assets while still respecting guardrails through smart contracts. We see it as balancing decentralization with just enough structure to satisfy regulators, without losing the efficiency that makes blockchain attractive.
Sentient
I think the key is to recognize that trust in settlement is what gives value to tokenization. If custody or compliance undermines that, then the whole point is lost. For us, the solution is composability — build systems where assets can move and settle instantly across protocols without layers of intermediaries. That removes many of the weak points where trust could break down. At the same time, regulation can be addressed by making reporting and auditing part of the chain itself, not bolted on afterward.
It’s also about designing systems that feel seamless to users. If someone in an emerging market can buy tokenized Treasuries without a stack of paperwork, that’s the win. Custody doesn’t go away, but it should be abstracted behind smart contracts and verifiable proofs rather than human middlemen. That way the Web3 advantages of speed, transparency, and borderless access are preserved while still satisfying institutional requirements.
LERAX
From our perspective, the best way to address these challenges is to make tokenization as transparent as possible. When an asset is tokenized and recorded on-chain, there is very little room for manipulation or fraud. That’s already a huge improvement over traditional systems where records can be disputed or even confiscated. Custody becomes more secure simply because the proof of ownership is immutably stored on blockchain.
Compliance, on the other hand, will always be an evolving issue. What we try to do is focus on asset classes like real estate where the rules are clearer, then build infrastructure that can adapt as regulations change. The main thing is not to add unnecessary intermediaries. If tokenization is done directly and ownership can be verified on-chain, we keep the Web3 advantage of efficiency and speed while gradually earning trust from regulators and traditional players.
GoMining
For us, custody is less about holding physical items and more about bridging digital infrastructure with blockchain. Our miners are backed by real hash rate and energy facilities, but once tokenized, the output is pure Bitcoin delivered directly to users. That way we eliminate the need for a custodian in the traditional sense. The blockchain acts as the trust layer, ensuring that rewards flow transparently and automatically.
Compliance and settlement challenges will continue to exist, but the best way to address them is by proving demand and reliability. If regulators see that tokenized mining works securely, with millions of users receiving payouts transparently, then it builds credibility. The important thing is to make settlement trustless — payments must happen on chain without relying on an opaque process. That preserves Web3’s strengths while slowly convincing traditional systems to align.
Blocksquare
In real estate tokenization, custody is often about who controls the title. We solve this by attaching tokens directly to legal ownership structures, so the blockchain reflects what the registry already recognizes. That avoids the problem of having tokens without enforceable backing. Compliance is tougher, but by working with stablecoin issuers and financial institutions, we can structure products where mortgages and liens are incorporated into tokenized layers. That way we stay within legal frameworks without creating extra middlemen.
The settlement side is where blockchain really shines. Once the legal wrapper is in place, token transfers can happen instantly and transparently on chain. Users don’t need to trust a broker to close a deal — they can see and verify ownership directly. The more we integrate these legal and technical systems, the more we can preserve the speed and openness of Web3 while solving the traditional frictions of real estate.
SuedeAI
Our approach is to focus on assets that don’t require custodians in the first place, like intellectual property or royalties. That avoids one of the hardest challenges entirely. If the asset is already digital, tokenization can prove provenance and ownership directly on chain. Compliance then becomes about how revenues are distributed, which smart contracts can handle fairly and transparently. That way, creators and investors both trust the process without relying on an intermediary.
For settlement, the goal is to make transactions as automated as possible. If an artist’s royalties are tokenized, payments should flow directly from streaming or licensing into token-holder wallets, with no manual steps. That eliminates trust gaps and preserves the Web3 advantage of automation. Instead of bending blockchain to fit traditional processes, we try to design categories of RWAs that naturally fit blockchain’s strengths.
Q5: Looking forward, how far can RWA go in reshaping financial markets? Do you see it evolving into the main bridge that finally connects TradFi and Web3, or will it remain a niche sector alongside others like DeFi and GameFi?
SuedeAI
This is really hard to conceptualize because I think RWAs will touch almost every part of our lives, often in ways we don’t usually think about. For example, social platforms could tokenize reputation or influence, letting people speculate on someone’s future popularity. In our case, royalties can be tokenized so creators directly monetize their work. That changes dynamics dramatically, because it makes creativity and personal clout a tradable real-world asset.
Of course, there may be negative impacts too, but overall I see it as a net positive. Tokenization can create opportunities for people to improve their situations by doing what they love and providing value to others. The scope is huge — it could cover everything from financial instruments to social value. So yes, I believe RWAs can grow into a major bridge rather than just a niche.
LERAX
From my perspective, RWAs are already becoming the bridge. Just look at BlackRock launching tokenized funds on Ethereum. That’s not a crypto-native company; that’s the biggest TradFi player making the move themselves. It shows that the convergence is inevitable. RWAs are likely to become the safe, yield-generating base layer upon which more speculative parts of DeFi and Web3 can build.
The bigger picture is that traditional finance is full of middlemen adding cost, delay, and complexity. The promise of blockchain is to strip that away and enable instant settlement. Tokenized RWAs are the most practical on-ramp to achieve that vision. The only question is how quickly adoption will happen, and how much resistance will come from entrenched players. But to me, the bridge is already being built.
GoMining
I agree that RWAs will keep growing, maybe even exponentially. The main uncertainty is the speed of adoption. On one hand, providers like BlackRock and other large institutions are already taking steps, so the willingness is there. On the other hand, regulatory and compliance frameworks will determine how fast this growth really happens. Some analyses predict $5 trillion on-chain by 2030, while others say it could be $30 trillion if all the tailwinds align.
What’s clear is that adoption won’t be perfectly smooth. RWAs democratize access and reduce barriers, but that also creates winners and losers. Some institutions may resist change to protect their business models, while others will pivot and adopt. Either way, the trajectory is upward — it will explode, the question is just how quickly.
Blocksquare
I personally believe everything will eventually be tokenized. The question is timing — will it happen by 2030, or closer to 2040? My view is that full convergence of TradFi and Web3 will take longer, because right now we’re in a stage where many assets are still off-chain and only mirrored by tokens. Over time, I expect more financial markets to be natively embedded on-chain, replacing much of the current infrastructure.
Another important point is that tokenization can enable entirely new products that TradFi never touched because they were too niche. Beyond debt, equity, and commodities, we might see creative financial instruments that don’t exist today. That’s what excites me: not just migrating existing assets, but creating new markets that are only possible with blockchain.
BitUSD
I think the question is less about “if” and more about “when.” The infrastructure of blockchain is clearly superior — faster, cheaper, and more scalable than legacy systems. So RWAs will inevitably move on-chain. The main factor is adoption speed, which depends on regulations and user readiness. We may be too optimistic about how quickly it will happen, but the direction is clear.
Even today, we see $200 trillion locked in real estate and only a few trillion in the entire crypto economy. RWAs are the natural path to bridge that gap. It won’t happen overnight, but as infrastructure improves and compliance frameworks mature, more and more traditional assets will migrate. I see RWAs as the foundation that will eventually support the next wave of Web3 growth.
Sentient
From my perspective, RWAs won’t stay niche — they will become central to the convergence of TradFi and Web3. The value proposition is simply too strong: RWAs provide safe yield and recognizable assets, while blockchain provides global access and efficiency. Together they form the natural bridge. For example, tokenized Treasuries already allow investors in emerging markets to access assets they never could before. That’s transformational.
At the same time, adoption will likely be uneven. Some regions and institutions will embrace it quickly, while others resist. But over the long term, the trend is undeniable. RWAs offer both familiarity and innovation, and that makes them the ideal vehicle for mainstream adoption. I see them not as a side sector like GameFi, but as a backbone of the future financial system.
Conclusion：
The AMA showed clear consensus that RWAs are moving from concept to foundation, with tokenized US stocks acting as a gateway product, Treasuries leading near-term scalability, and real estate holding the largest long-term potential. For users, the main appeal lies in access, liquidity, and diversification — retail investors gain entry to assets once unreachable, while institutions seek efficiency and integration with DeFi. Speakers acknowledged custody and compliance challenges but stressed that transparency, smart contracts, and native tokenization can preserve Web3’s advantages while satisfying regulators. Looking forward, all agreed RWAs will not remain a niche but evolve into the core bridge linking TradFi and Web3, eventually reshaping global financial markets.
