Standard Chartered (SC) projected that the tokenization market will grow by approximately 5,600% to reach $2 trillion by 2028. According to DL News, Geoffrey Kendrick, Head of Digital Assets Research at SC, explained in a recent report, "In the tokenization market, all assets and infrastructure exist on the same ledger, allowing for barrier-free interaction," adding, "lending protocols are the central axis of this activity." The expansion of stablecoin-based DeFi lending is key, as the on-chain movement of real-world assets enables a single asset to simultaneously serve as collateral, yield, and liquidity, thus lowering capital costs compared to traditional finance. Meanwhile, regarding the KelpDAO exploit and the large-scale fund outflow from Aave that occurred earlier this month, he assessed that "while it is among the most serious DeFi incidents recently," "the growth momentum of tokenization has not been undermined."
