In 2024, RWA (Real World Assets) is still in the storytelling stage. By January 2026, this sector has evolved from a pure concept into a solid foundation for on-chain finance.

In just these two weeks, the RWA lock-up scale on the Base chain has hit a new high, and several ultra-hardcore new protocols have been launched successively. The overall market enthusiasm is extraordinary.

**The On-Chain Financial Landscape Is Being Rewritten**

According to a major research institution's annual report on January 16, the total value of global RWA lock-up has surpassed $21 billion. More importantly, it has overtaken DEX (Decentralized Exchange) lock-up volumes on several public chains. What does this indicate? The underlying assets of on-chain finance are quietly changing—shifting from volatile tokens with rollercoaster prices to more stable, income-generating traditional financial assets like government bonds and stocks.

**Ondo Finance’s Aggressive Strategy**

Ondo Finance, a leading player in RWA on the Base chain, made a big move in early January: launching 98 new tokenized assets at once. This is not just a pile of numbers; it reflects a major strategic shift behind the scenes.

Previously, Ondo mainly focused on tokenizing U.S. bonds. Now, its ambitions are clearly larger—AI concept stocks, electric vehicle ETFs, various themed funds—all incorporated into the tokenization framework. Data shows that Ondo’s market share in tokenized stocks has already exceeded 5%. While this may not seem like a large proportion, considering that this sector is just getting started, this growth rate is already quite aggressive.