Changpeng Zhao, founder of Binance, acknowledged in an interview that he underestimated the growth of tokenized real-world assets and stablecoins. The tokenized RWA market has swelled to roughly $29 to $33 billion by mid-2026, with tokenized US Treasuries accounting for more than $13 billion. The stablecoin market has eclipsed $320 billion, a figure CZ specifically cited as one he hadn’t anticipated. BNB Chain recorded approximately 776,000 RWA holders as of August 19, 2026, representing a 370% increase over just 30 days. However, CZ pointed to persistent structural challenges including liquidity, regulatory fragmentation, and product complexity.
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