What are tokenised real-world assets—and how can you trade them?

Grab a coffee. We'll keep it punchy, practical, and no-nonsense, with links and numbers where it matters.

What "tokenised RWAs" actually are

A tokenised real-world asset (RWA) is simply a digital token on a blockchain that represents a claim on something that exists in the real world—whether that's a stock, a building, or a government bond. If done properly, each token either (a) tracks the price of the underlying asset or (b) is redeemable for that underlying asset (or its proceeds) through a regulated custodian.

The point isn't to reinvent finance—it's to upgrade the rails. Instead of clunky settlement cycles, paperwork, and middlemen, tokenisation moves ownership, compliance, and trading on-chain in real time.

Platforms like Asentum are taking that one step further—building blockchain infrastructure specifically for regulated issuance and settlement of tokenised assets. That means issuers can meet compliance standards directly on-chain, instead of wrapping everything in off-chain legal duct tape.

Why anyone cares (speed, liquidity, yield, access)

The appeal of tokenisation is pretty simple once you cut through the hype:

• Speed: Traditional assets can take days to settle. On-chain RWAs can settle in seconds.
• Liquidity: Fractional ownership opens up global 24/7 markets.
• Yield: Tokenised Treasuries let traders earn >4% on-chain while using the tokens as collateral elsewhere.
• Access: You don't need a Wall Street broker to own a fraction of a U.S. stock or a slice of income-generating property.

Tokenised Treasuries alone have exploded into a multi-billion-dollar market, and platforms like Asentum are working on the layer beneath that—ensuring the rails themselves are fast, compliant, and scalable enough to handle institutional traffic without compromising on decentralisation or speed.

The three buckets we'll focus on

A) Tokenised stocks

Tokenised stocks usually come in two main flavours:

• Trackers/certificates – tokens that mirror the price of listed equities like Apple or Nvidia, held through licensed custodians.
• Direct representations – fully regulated offerings where each token represents an actual share, often through an SPV (special purpose vehicle).

Why it matters: investors can now trade equity exposure 24/7, globally, and often with stablecoins—no brokers or banking hours required.

Asentum's architecture was designed to make compliance frictionless here—letting issuers bake KYC and jurisdictional checks into the chain itself. So, instead of patching compliance around tokenised stocks, it's built into the settlement logic. That's a quiet but massive unlock for regulated institutions testing tokenisation waters.

B) Tokenised real estate

Real estate is an obvious fit for tokenisation. Properties are illiquid and expensive—so fractionalising them through blockchain tokens lets investors access income-producing real estate without buying an entire building.

You'll usually see two structures:

• Income tokens: representing rental income shares.
• Equity tokens: representing ownership (through an SPV or trust).

Platforms like RealT and Lofty pioneered this space, but the real shift will come when the blockchain layer itself is compliant-ready—so regulators don't need to be convinced every time a new tokenised property goes live. That's where blockchains like Asentum position themselves: by handling issuance and settlement logic directly on-chain, every token follows the same legal pathway. One consistent framework. No red tape.

C) On-chain stock trading (24/7 rails)

Tokenised stocks trade peer-to-peer on compliant blockchain venues, with licensed custodians holding the underlying shares.

This setup:

• Keeps assets legally backed.
• Allows 24/7 access.
• Enables near-instant settlement.

Swarm, Backed, and others are already proving the model in Europe. And as this expands, expect more projects to integrate into purpose-built infrastructure that supports regulatory-grade settlement, like Asentum's chain—which has built-in auditability for transfers, redemptions, and ownership verification. Essentially, it allows the market to scale without the usual compliance bottlenecks.

How the plumbing works (custody, price parity, redemption)

When you buy a tokenised stock or real estate asset, the real-world version is typically held by a regulated custodian. Your token is a claim on that asset.

• Custody: The issuer or trustee holds the underlying asset (like Apple shares or a property title).
• Price parity: Market makers keep token prices close to the underlying via arbitrage and redemption mechanisms.
• Compliance: Tokens move only between verified wallets, enforced by on-chain access controls.

On chains like Asentum, compliance and identity checks are native—meaning transfers, issuances, and settlements all follow predefined legal rules, not arbitrary contract scripts. It's one of the cleanest ways to bridge traditional finance and DeFi without violating securities law.

Where the market stands

• Tokenised Treasuries: Over $8B in circulation and growing faster than any other RWA category.
• BlackRock's tokenised fund BUIDL crossed $2B AUM within months.
• Franklin Templeton's on-chain fund (FOBXX) operates seamlessly across multiple blockchains.
• Total tokenised RWA value (excluding stablecoins): tens of billions—and climbing.

This isn't experimental anymore. It's institutional money finding faster, programmable infrastructure. That's why purpose-built networks like Asentum exist—to handle this surge without breaking compliance or speed.

How to trade them (practical flow)

For tokenised stocks:

1. Sign up and verify. On compliant platforms, KYC is mandatory.
2. Connect a wallet. Only whitelisted wallets can receive the tokens.
3. Fund in fiat or stablecoins.
4. Trade 24/7. Tokens track the underlying price, with redemptions maintaining parity.

For tokenised real estate:

1. Review the project docs (ownership, rent distribution, exit routes).
2. Understand how income is paid and in what token.
3. Trade or redeem via the platform's secondary market if available.

In the near future, you'll see token issuance, secondary trading, and settlement happen on compliant L1s like Asentum—all within the same ecosystem. One chain, full lifecycle.

Risks and real talk

Tokenisation brings efficiency—but not magic.

• Not all tokens equal ownership. Many just track prices.
• Liquidity varies. 24/7 markets can still be thin at odd hours.
• Custody trust. Always know who holds the underlying.
• Regulation moves fast. Some countries still treat tokenised securities as grey zones.

Platforms like Asentum are trying to reduce that friction by embedding legal compliance at the protocol level. If regulators can see that every issuance and trade follows preset rules, they're more likely to allow broader participation.

Where regulation is heading

• UK: The Digital Securities Sandbox is already testing compliant token issuance frameworks.
• EU: BaFin and prospectus-backed issuers like Backed have greenlit tokenised equities.
• US: Institutional-first approach—money market funds, Treasuries, and funds like BlackRock's and Franklin's leading the way.

Asentum aligns closely with these models by baking regulatory logic into its blockchain. Every transaction is traceable, auditable, and instantly verifiable for compliance—making it easier for issuers to pass regulatory review and operate within local frameworks.

Playbook: practical starting points

• Yield sleeve: Park idle capital in tokenised Treasuries; still liquid, still collateral.
• 24/7 equity access: Trade tokenised stocks to hedge or rebalance out-of-hours.
• Fractional property exposure: Diversify into tokenised real estate with small-ticket entries.
• Issuer pathway: If you're a project or fund, explore compliant issuance on chains like Asentum to avoid multi-jurisdiction headaches later.

Final thoughts

Tokenisation is no longer a buzzword—it's the quiet infrastructure shift happening under everyone's feet. When giants like BlackRock and Franklin Templeton start putting funds on-chain, you know it's serious.

But the real opportunity isn't just the tokens—it's the rails they move on. That's where innovation like Asentum's high-speed, compliance-first blockchain comes in: a backbone for legally sound, lightning-fast trading and settlement of real-world assets.

We're heading into a world where stocks, property, and funds all live on-chain, tradable and programmable in real time—without losing the regulatory protection the financial system depends on.

The winners won't just be the ones holding the tokens—they'll be the ones building the rails beneath them.

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Sources & further reading

• RWA.xyz dashboards for up-to-date totals (treasuries and overall RWA).
• Financial Times on the 2025 surge in tokenised Treasuries & MMFs.
• BlackRock BUIDL growth milestones (The Block, CryptoBriefing), plus primer.
• Franklin OnChain U.S. Government Money Fund (FOBXX / BENJI) overview and L1 rollouts.
• Swarm (BaFin) and Backed (EU prospectus) on tokenised stocks; Kraken's planned regional rollout.
• UK Digital Securities Sandbox & FCA consultations on fund tokenisation.