There is an observation worth mentioning: the paradigm shift in the financial system may be accelerating to an unexpected stage.

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The attitude of large asset management and financial institutions has changed. BlackRock and Franklin Templeton have already issued on-chain treasury bond funds with real money. Citibank, Bank of America, and JPMorgan are secretly testing on-chain settlement and deposit services. The most crucial step is that the US financial clearing and settlement hub, DTCC, has been approved by the SEC and plans to migrate treasury bonds and stock indices to the blockchain by 2026. This is not just an experiment, but an engine update for the entire clearing and settlement infrastructure.
All these actions essentially promote the same thing: the tokenization of RWA (Real World Assets). In simple terms, it means converting real assets such as real estate, bonds, and stocks into digital forms on the blockchain.
Why has RWA suddenly attracted so much attention? It touches on three fundamental pain points of traditional finance:
Firstly, time cost. The market trades 24/7, no longer limited by exchange opening hours. Secondly, settlement efficiency. On-chain settlement occurs in seconds, which is a whole order of magnitude faster than traditional T+2 settlement. Thirdly, access and fees. The threshold for global participants has been lowered, significantly reducing intermediary steps and costs.
The SEC and CFTC have rarely joined forces to express that they will study the "7x24 hour capital market" framework. This signal is very clear - the trend has been established.
At this stage, Ethereum is the biggest beneficiary, holding nearly $19 billion in RWA asset volume. But this is just the prologue. In the future, the identities of financial institutions will be completely transformed — they will evolve from the lofty "central institutions" into "participating nodes" within the blockchain ecosystem, with roles and power structures being restructured.
The official launch of DTCC in 2026 could become a real turning point. Once the framework of traditional finance connects with the liquidity and transparency of blockchain, the redefinition of assets, transactions, and the essence of trust will truly enter the practical stage.
Which public chain do you think can stand out in the RWA track? Or do you think institutional entry is just a signal before a bull market? Or is this actually a larger power restructuring? Share your thoughts.