Tokenization keeps winning. Token prices, meanwhile, seem to have missed the memo. Over the last three years, on-chain real-world assets have exploded from roughly $1 billion to $30 billion as stocks, bonds, treasuries, real estate, and other traditional financial instruments steadily migrate onto blockchain rails. That’s a 30x expansion in what many believe could become the foundation layer of future finance.

Infrastructure Growth Happens Behind The Curtains

The latest developments only strengthen that argument. Industry executives recently pointed to stablecoins becoming invisible financial infrastructure, with examples including stablecoin-powered remittances between the United States and India. The bigger opportunity, however, may…