Tokenized Asset Market Poised to Reach $18.9 Trillion by 2033, Says BCG and Ripple Report

A joint report by Boston Consulting Group (BCG) and Ripple, released on Monday, projects that the market for tokenized financial instruments, or real-world assets (RWAs), could reach $18.9 trillion by 2033. This represents a compound annual growth rate (CAGR) of 53%. The report highlights tokenized government bonds, such as U.S. Treasury securities, as an early success, enabling corporate treasurers to manage liquidity in real-time. Despite this potential, the report identifies challenges including fragmented infrastructure, limited interoperability, uneven regulatory progress, inconsistent custody structures, and a lack of smart contract standardization.