Standard Chartered’s Kendrick Predicts DeFi Assets Could Reach $2.7 Trillion by 2030

Standard Chartered head of digital assets research Geoff Kendrick said in a research note that assets in decentralized finance (DeFi) could reach $2.7 trillion by 2030. According to Cointelegraph, Kendrick said only 3% of stablecoins and 10% of tokenized real-world assets (RWAs) are currently used in DeFi, but he expects those shares to rise to 30% by 2030, implying a 37-fold increase from current levels. He linked the outlook to accelerating tokenization activity, noting that tokenized RWAs—including stocks, bonds, real estate, gold, and carbon credits—reached $32.22 billion in distributed on-chain value by the end of June, nearly triple the roughly $11.8 billion market from a year earlier. Including stablecoins, described as tokenized fiat, the broader tokenized market was reported to be above $328.8 billion. Data from RWA.xyz showed total RWA holders rose to 937,928, up 13% last month. US Treasury bills, notes, and bonds were cited as the largest tokenized asset category by on-chain value at $15 billion, supported by familiarity, liquidity, and yield. Blackrock’s BUIDL fund, launched in March 2024, exceeded $2.9 billion by June 2025 and was reported at $2.23 billion after capital reallocation and platform competition; it has distributed more than $100 million dividends and operates across multiple chains. In February 2026, Uniswap Labs and Securitize said BUIDL shares became available on UniswapX with restrictions, with Securitize CEO Carlos Domingo describing the move as bringing traditional finance standards to DeFi. Franklin Templeton’s OnChain US Government Money Fund (BENJI) was reported at $2.44 billion, while other Treasury products included Circle’s USYC ($3.1 billion), Ondo’s suite ($3.7 billion), and WisdomTree’s WTGXX ($764 million). Private credit tokenization was described as growing due to higher yields and improved liquidity, with tokenized private credit at about $6.2 billion and Maple Finance and Stokr each holding about 22% share. Tokenized stocks totaled $2.19 billion, up nearly 50% in the past thirty days, as DTCC planned tokenized securities trading pilots beginning this month, with a possible commercial launch by October and participation from more than 50 firms. Tokenized commodities reached $5.8 billion in March 2026 and were reported at $4.7 billion currently, while real estate tokenization stood at $202.7 million, with developments in Dubai and Hong Kong in February 2026. The article noted RWAs remain small versus traditional markets and liquidity is limited, but regulatory steps such as a March SEC approval of a Nasdaq proposal were cited as signals of broader adoption.