A New Turning Point in the Blockchain Industry by 2025: Market Restructuring Driven by RWA Tokenization and Enterprise Blockchain
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Paradigm Shift in the Blockchain Market Driven by Real World Asset Tokenization
As of December 2025, the blockchain industry is rapidly transitioning from speculative cryptocurrency trading to practical applications centered around Real World Asset (RWA) Tokenization. The global RWA tokenization market is expected to grow by 133%, from $120 billion in 2024 to $280 billion in 2025, significantly outpacing the overall blockchain market growth rate of 45%. This growth is attributed to the proactive adoption of blockchain by traditional financial institutions and the clarification of regulatory environments.
JPMorgan’s (New York-based) JPM Coin has surpassed $10 billion in daily transaction volume, demonstrating the potential of enterprise blockchain payment systems, while Goldman Sachs (New York-based) has tokenized $5 billion worth of commercial real estate through its real estate tokenization platform. Notably, these traditional financial institutions are opting for private or consortium blockchains rather than public ones, reflecting the demands of institutional investors who prioritize regulatory compliance and transaction privacy.
In South Korea, Shinhan Bank and KB Kookmin Bank have each obtained licenses for digital asset custody businesses, laying the groundwork for providing RWA tokenization services. The Korea Exchange (KRX) has announced plans to launch a digital asset trading platform in the first half of 2025, initially supporting RWA token trading focused on real estate and art. These developments indicate a shift in the domestic blockchain market away from speculative trading towards building a healthy ecosystem linked to the real economy.
On the technical front, Ethereum’s Layer 2 solutions are becoming the core infrastructure for RWA tokenization. Polygon reported a 420% increase in RWA-related transaction volume in 2025 compared to the previous year, with Arbitrum and Optimism showing similar growth trends. These Layer 2 solutions address the scalability issues essential for large-scale RWA tokenization by offering transaction fees 99% lower and processing speeds 10 times faster than the mainnet.
Enterprise Blockchain and the Digital Transformation of Traditional Industries
The adoption of blockchain technology in supply chain management is accelerating. Walmart (Arkansas-based) announced a goal to connect 80% of its suppliers to its blockchain network by 2025, with about 60% of suppliers currently participating. This has reduced food safety traceability time from seven days to 2.2 seconds and achieved an annual cost saving of $1.2 billion. Mastercard (New York-based) supports supply chain transparency for 1,200 companies worldwide through its blockchain-based solution ‘Provenance,’ playing a crucial role in ESG management and sustainability reporting.
Blockchain technology is also expanding in the field of digital identity management. Microsoft’s (Washington-based) ION (Identity Overlay Network) is a decentralized identity solution based on the Bitcoin network, with over 2.5 million monthly active users. This system allows users to control their personal information without storing it on centralized servers, providing an effective solution for GDPR compliance and other privacy regulations. IBM’s (New York-based) blockchain-based digital passport system is currently in pilot operation in 15 countries, reducing border crossing times by an average of 40%.
In the entertainment industry, NFTs (Non-Fungible Tokens) are becoming the new standard for digital copyright management. Disney (California-based) recorded $300 million in revenue in the first half of 2025 through its NFT collection utilizing its IP, significantly surpassing traditional licensing revenue. In South Korea, HYBE (Seoul-based) is creating new revenue models by issuing digital photocards and concert tickets of its artists as NFTs. This movement enables direct connections between creators and consumers, offering the advantage of saving on intermediary distribution fees.
In the healthcare sector, blockchain solutions are gaining attention for enhancing the security and interoperability of patient data. Pfizer (New York-based) and Novartis (Switzerland-based) have jointly developed a system that records clinical trial data on the blockchain to ensure data integrity. This system prevents tampering with clinical trial data and allows transparent information sharing with regulatory authorities. In South Korea, Seoul National University Hospital has established a blockchain-based medical data sharing platform, securely sharing patient information with 10 partner hospitals, achieving a 30% reduction in duplicate tests.
The automotive industry is also accelerating the adoption of blockchain technology. Volkswagen (Germany-based) has introduced a ‘Car Wallet’ system that records the entire lifecycle of its vehicles on the blockchain, from production to disposal. This allows transparent management of vehicle maintenance history, accident records, and ownership changes, significantly enhancing trust in used car transactions. Hyundai Motor (Seoul-based) is also developing a blockchain-based vehicle history management system, planning to apply it to electric vehicle models set to launch in 2026.
However, there are still significant challenges in adopting enterprise blockchain. The most significant issue is the complexity of integrating with existing legacy systems. Connecting the IT infrastructure that large corporations have built over decades with blockchain systems requires an average development period of 18 months and costs over $5 million. Additionally, the shortage of blockchain specialists is a serious problem, with global demand for blockchain developers exceeding supply by more than three times. As a result, the average salary for blockchain developers is 40% higher than that of general software developers.
Regulatory Environment Changes and Market Outlook
One of the most important changes in the blockchain industry by 2025 is the clarification of the global regulatory environment. With the full implementation of the EU’s MiCA (Markets in Crypto-Assets) regulation, a clear legal framework for cryptocurrencies and digital assets has been established, acting as a major factor encouraging institutional investors to enter the blockchain market. In fact, the investment volume of Europe-based institutional investors in digital assets increased by 180% year-on-year to €45 billion in 2025.
In the United States, the SEC (Securities and Exchange Commission) has issued guidelines on RWA tokens, clarifying the criteria for distinguishing between security tokens and utility tokens. Consequently, large asset management firms like BlackRock (New York-based) and Fidelity (Boston-based) have begun launching tokenized investment products. BlackRock’s BUIDL (USD Institutional Digital Liquidity Fund) attracted $1.5 billion in assets within six months of its launch, being evaluated as a successful example of combining traditional finance with blockchain technology.
In South Korea, the implementation of the Virtual Asset User Protection Act has strengthened the investor protection obligations of exchanges. As a result, major exchanges like Upbit, Bithumb, and Coinone are required to segregate customer assets and obtain insurance, leading to increased investor confidence. Additionally, the Financial Services Commission announced plans to review the approval of virtual asset ETFs from 2026, providing additional growth drivers for the domestic blockchain market. The domestic virtual asset market is projected to grow by 60% year-on-year to ₩120 trillion in 2025, with over 80% expected to be traded within the institutional framework.
China is maintaining its lead in the central bank digital currency (CBDC) field through the Digital Yuan (DCEP) project. The daily transaction volume of the Digital Yuan has surpassed ¥2 billion, accounting for 15% of total retail payments. The Chinese government has set a goal to expand the usage rate of the Digital Yuan to 30% by 2026, mandating support for the Digital Yuan on major e-commerce platforms and mobile payment services. This movement is significantly influencing the CBDC development of other countries, with 130 countries worldwide currently participating in CBDC research and development.
Japan is focusing on nurturing blockchain startups through its Web3 policy. The Japanese government expanded tax benefits for Web3 startups in 2025 and announced a ¥1 trillion investment plan to develop Tokyo as an Asian blockchain hub. SoftBank (Tokyo-based) announced plans to invest $5 billion in blockchain startups through its Vision Fund, having already completed investments in 15 blockchain projects. With these policy supports, Japan’s blockchain market is expected to grow by 90% year-on-year to ¥8 trillion in 2025.
Looking at future market prospects, the global blockchain market size is expected to reach $240 billion by 2026, with over 60% generated from enterprise solutions and the RWA tokenization sector. The carbon credit tokenization market is particularly experiencing rapid growth, with the market size expected to grow by 300% year-on-year to $18 billion in 2025. This is a result of the spread of ESG investments and the strengthening of carbon neutrality policies, with companies actively adopting blockchain technology to enhance the transparency and efficiency of carbon credit trading.
However, new risk factors are emerging alongside market growth. The advancement of quantum computing technology could threaten the security of existing encryption methods, making the development of quantum-resistant encryption technology an urgent task. Additionally, the energy consumption issue of blockchain networks remains a challenge. The annual power consumption of the Bitcoin network is similar to that of Argentina’s entire power consumption, raising significant concerns regarding environmental sustainability. More blockchain networks need to transition to eco-friendly consensus mechanisms, as demonstrated by Ethereum’s transition to Proof of Stake (PoS), which reduced energy consumption by 99%.
In conclusion, by 2025, the blockchain industry is completing a paradigm shift from speculative trading to practical value creation. As RWA tokenization and enterprise blockchain solutions become the key drivers of market growth, active participation from traditional financial institutions and companies continues. With the clarification of regulatory environments and improvements in technological maturity, the popularization of blockchain technology is expected to accelerate over the next 3-5 years, serving as a new growth engine for the digital economy. However, continuous innovation and collaboration are needed to address technical challenges, regulatory uncertainties, and environmental sustainability issues.
The information and analysis presented in this article cover general market trends and are not intended as investment recommendations or advice. Investments in blockchain and digital assets involve high volatility and risk, so please conduct thorough research and consult with experts before making cautious decisions.
