Key facts
- Morgan Stanley expects the tokenized real-world asset market to reach $3T-$10T by 2030.
- The bank plans to launch tokenized stock trading support in Q1 2027.
- Tokenized real-world assets currently stand at approximately $39.19 billion.
- Private shares, structured notes, and investment funds are seen as key tokenization areas.
- DTCC's planned tokenization service launch is set for October 2026.
Morgan Stanley forecasts that the market for tokenized real-world assets (RWAs) could grow to between $3 trillion and $10 trillion by 2030, according to Amy Oldenburg, the bank’s head of digital asset strategy. Oldenburg expressed confidence in this projection during an interview at TOKEN2049, emphasizing that institutional adoption will be the primary driver of this expansion.
Despite the long-term optimistic outlook, Morgan Stanley has revised its own timeline for supporting tokenized equities, now aiming for the first quarter of 2027, a delay from its previous target of the second half of 2026. Oldenburg cited a lack of available products as a current challenge for institutional participation.
The current market for tokenized RWAs is significantly smaller, standing at approximately $39.19 billion as of October 12, according to RWA.xyz. The bank sees potential in tokenizing assets like private shares, structured notes, and investment funds, which could benefit from blockchain's ability to streamline ownership and transfers. Financial institutions are also exploring the use of tokenized securities as collateral.
Morgan Stanley is also closely watching the Depository Trust & Clearing Corporation's (DTCC) planned tokenization service, slated for October 2026. This service aims to allow eligible securities to have blockchain-based representations while remaining within existing custody frameworks. The DTCC's digital assets working group, comprising major financial institutions, is also working on standards for tokenized securities and settlement processes.
In parallel, Morgan Stanley is developing its own digital wallets and testing blockchain applications through its Digital Asset Lab, as part of its broader preparations for offering institutional tokenized asset services.