Solana Foundation Chair: Tokenization Enters a Super Cycle with Billions in RWA Activity

ChainCatcher report: Lily Liu, Chair of the Solana Foundation, posted that capital, assets, and ownership are migrating to a 24/7 internet infrastructure, giving rise to a long-term token supercycle. Tokenization is not merely about moving assets on-chain—it transforms the assets themselves, enabling value to be issued, held, financed, and traded in markets that never close. She believes stablecoins have demonstrated that capital can flow on-chain globally; financial institutions are driving asset tokenization; blockchain infrastructure is increasingly meeting the speed and cost demands of real-world economic activity; and AI economic agents require programmable money. When these factors converge, any asset with clear ownership could be tokenized and gain broader access to distribution, financing, and trading channels. Over the past year, RWA trading volume on Solana reached hundreds of billions of dollars, encompassing tokenized U.S. Treasuries, equities, and private credit; during the same period, stablecoin transfers exceeded $4.7 trillion. Liu noted that tokenization also enables more investors to overcome geographic, minimum investment, and eligibility barriers, while allowing their assets to be used as collateral or to generate yield. Although the current on-chain market size remains far smaller than traditional markets, the underlying infrastructure has the potential to reach 5.5 billion internet users worldwide.