When BlackRock, Ondo Finance, and Securitize have chosen Solana to deploy tokenized assets, this "high-speed public chain" is becoming a test field for traditional financial assets to be put on the chain.
In 2025, Real World Assets (RWA) has become the most important intersection between the crypto world and traditional finance. According to RWA.xyz data, as of October 28, 2025, the total circulating market value of RWA outside of stablecoins has exceeded US$35 billion, but this is just the beginning. According to the Boston Consulting Group’s forecast, by 2030 the scale of on-chain RWA will reach $16 trillion。
In the early competition on this trillion-dollar track, a phenomenon worthy of attention is happening:Although Ethereum still accounts for more than 50% of the RWA market, Solana is attracting more and more heavyweight players with its unique technical advantages.
Solana Current status of RWA ecology: small but sophisticated diversified layout
According to RWA.xyz data, RWA assets on the Solana chain have reached94 species, with a total market value of approximatelyUS$700 million, ranking 7th among major public chains, accounting for 50% of the total RWA size in the market3.25%。
Although the share is not large, theSolana's RWA ecosystem has formed a complete diversified structure:
- Tokenization of Treasury Debt : Ondo Finance’s USDY total value reaches US$170 million , becoming the largest non-stable currency RWA asset on Solana； Products such as BUIDL, a collaboration between BlackRock and Securitize, and VanEck’s VBILL have also been launched on Solana. As of October 28, 2025, the total value of U.S. Treasury securities tokenized on the Solana chain reached $467 million.
- Stock Tokenization : Provided by xStocks platform (Backed Finance) 61 species Tokenized versions of stocks and ETFs with a total market capitalization exceeding $106 million.
- Real estate tokenization : Parcl allows users to invest in real estate market fluctuations through real estate price index derivatives, with TVL of approximately $7 million ； MetaWealth is tokenized 138 sets real estate, managed assets $36 million
- commodities : Projects such as BAXUS (high-end liquor), Elmnts (oil and gas mineral rights) and Powerledger (renewable energy) enrich the asset class
In the past 30 days, the amount of RWA transfers on the Solana chain has reached$20 billion, the transaction volume is second only to Ethereum, showing strong growth momentum.
Performance Benefits: Why do RWA projects need a “highway”?
Solana’s rise in the RWA field is largely due to its unique technical features:
High throughput and low latency
Many users of the RWA market come from traditional stock markets or commodity markets and have extremely high requirements for trading experience. Solana High TPS (theoretical peak 65,000) and Sub-second block generation time , making it capable of high-frequency financial transaction scenarios. As China Merchants Bank International’s on-chain RWA fund CMBMINT chose Solana for its initial launch, this public chain is suitable to become the first choice for RWA business. Execution layer。
Advantages of micropayment with ultra-low fees
RWA applications often involve a large number of small transactions, such as rent allocation, interest payments, etc. Taking the real estate tokenization platform Homebase as an example, it needs to be processed every month Thousands of small rental allocations , high gas fees will seriously erode yields. Solana Ultra low handling fee (typically less than $0.001 per transaction) provides an ideal solution for such micropayment scenarios.
Institutional grade infrastructure
When traditional financial institutions such as BlackRock enter the crypto world, they have strict requirements for the stability of nodes and the maturity of APIs. The Solana Foundation has made great efforts to improve enterprise-level services in recent years, paving the way for institutional admissions. Securitize’s selection of Solana to deploy BlackRock’s BUIDL fund is itself a recognition of Solana’s institutional-grade infrastructure.
Differentiated positioning from Ethereum: execution layer vs settlement layer
In the RWA ecosystem, Solana and Ethereum have formed obvious differentiated competition:
Ethereum: A secure settlement layer
Ethereum relies on its Powerful network effects、highest security and The most mature developer ecosystem , naturally becomes a RWA asset Preferred settlement tier . Most RWA projects choose to issue tokens on Ethereum to ensure asset security. However, its high gas fee and relatively slow transaction speed limit its use in High frequency trading scenario applications in.
Solana : Efficient execution layer
Solana relies on its Performance advantages , is gradually becoming RWA’s Execution layer ——Process a large number of small transactions and provide real-time settlement services. Many RWA projects adopt the strategy of "multi-chain deposit absorption and single-chain settlement transactions", and Solana is often selected because of its high TPS. Trade Execution Platform。
This division of labor is similar to the relationship between the New York Stock Exchange (execution) and DTCC (settlement) in traditional finance - Solana handles front-end transactions, and Ethereum ensures the security of the final settlement.
Challenges and Future: Growth Bottlenecks of Solana RWA Ecosystem
Despite its promising prospects, Solana’s road to RWA still faces challenges:
Network stability issues
Between 2022 and 2024, Solana has experienced Multiple network outages , which is fatal to financial services that need to operate 24/7. Although stability has improved significantly in the past year, it still needs to continue to prove its reliability to win the complete trust of traditional financial institutions.
Compliance challenges
RWA is essentially an on-chain mapping of traditional finance. Compliance is a lifeline . Solana needs to establish a better compliance infrastructure, including identity verification, regulatory reporting tools, etc., to meet the strict requirements of security tokens.
Market competition is fierce
In addition to Ethereum, public chains such as Avalanche and Polygon are also actively competing for the RWA market. Avalanche's subnet architecture and Polygon's institutional-level solutions all constitute direct competition with Solana.
Conclusion: RWA may become Solana’s “killer application””
Solana’s performance in the RWA field proves that a public chain can passFocus on specific vertical areasAchieve breakthroughs. When performance advantages are perfectly matched to market needs, a unique competitive advantage is created.
For Solana, RWA is not only a way to increase TVL, but also to prove itsExcellent scenario for technical practicality. If Solana can continue to improve network stability, strengthen compliance, and maintain its performance advantages, it is expected to occupy an important position in the $16 trillion RWA market.—— It is not to replace Ethereum, but to serve as a complementary execution layer to jointly promote the historical process of traditional assets being put on the chain.
As more institutions deploy RWA products through Solana, this "high-speed public chain" is proving that on the road of blockchain empowering traditional finance,Performance itself is a core competitiveness。
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