BofA says RWA tokenization gains momentum

Bank of America (BofA) said in a July 28 report that investor interest is shifting toward tokenizing real-world assets (RWAs) such as stocks, bonds, bank deposits and real estate, marking a multi-year journey to blockchain-based transactions with benefits like instant settlement and enhanced liquidity. The report highlights Dubai’s Land Department platform, set to digitize $16 billion of property by 2033 with fractional ownership, and warns that while tokenization promises 24/7 access, instant settlement and greater liquidity, it will require significant infrastructure build-out. According to CoinDesk, BofA also noted concerns that blockchain could disrupt traditional banking revenue streams, such as Citi’s, but argued that incumbents’ expertise and adaptability are often underestimated.