Real-world asset (RWA) tokenization is gaining momentum as a promising innovation on Wall Street. The US GENIUS Act, which establishes a regulatory framework for the $260 billion stablecoin market, is expected to accelerate growth in the sector. The legislation, signed into law by US President Donald Trump, is a strong signal that Congress is ready to support responsible blockchain innovation. Stablecoins, often excluded from RWA industry metrics, are backed by government bonds and other tangible assets, making them a key on-ramp for tokenization’s future growth. A favorable regulatory environment in the US will be a major catalyst for the continued evolution and adoption of tokenized assets. To date, much of the growth in tokenized assets has been concentrated in private credit and US Treasury debt. The initial adoption of tokenization has been centered on bringing legacy financial assets onto modern digital rails, with treasuries and private credit being perfect starting points. As the financial infrastructure matures, it will focus on unlocking new financial products and global participation. Aptos Labs is emerging as a hub for RWA activity, with the value of tokenized RWAs on the Aptos blockchain exceeding $540 million in late June.