Episode Description
Real world assets aren’t just a narrative. They are a phase change for the cryptocurrency industry. The new episode of Diamond Rhino breaks all that down. In detail. With charm.
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So. The fate of the crypto markets will no longer be hermetically sealed against the real economy, inside the balances in Coinbase and Kraken accounts or inside Metamask wallets.
No, in the real world asset future, on-chain will meet Main Street at scale.
The way this has been discussed so far, to me, has sounded like real world assets would just be the new corner of crypto. As if there’s memecoins and NFTs and Bitcoin and now we’ve got real world assets, too.
That’s not right. Once real world assets reach adequate scale, the liquidity, the volume growth, the blockchain-to-reality connection, it’s going to reach every corner of this whole market.
To research this episode I went through a slew of discussions of real-world assets and it only gave me greater conviction that crypto has not had a real cycle yet. The true cycle will kick in once the real world asset flywheel really begins spinning.
Sure this is all bullish, but I see something else, to. There’s a thesis at the end that I’ve been kicking around a while but haven’t talked about too much yet.
So come for the breakdown. Stay for the lowdown.
Show notes:
Unlocking Trillions of Dollars with RWAs (Real World Assets)The DefiantLucas Vogelsang, CentrifugeOctober 16, 2023
Tokenizing Real World Assets — with Robert Leshner of SuperstateBanklessMarch 12, 2024
Unlocking Trillions: Sergey Nazarov On Tokenizing Real World Assets & The White House Crypto Summit Wolf of All StreetsMarch 16, 2025
Are Tokenized Stocks Real?BanklessGabriel Otte, founder of DinariJuly 14, 2025
The State Of DeFi Lending With Mary GooneratneLightspeedMary Gooneratne, LoopscaleAug 19, 2025
The Future of Finance is Tokenized: Ondo’s Vision for RWAsThe DefiantIan De Bode, Chief Strategy Officer at Ondo FinanceSept 2, 2025
State of Crypto 2025: The Latest Data, Trends, and Themes Revealeda16z CryptoOctober 22, 2025
Most Tokenization Projects Fail. Here’s Why One SucceededUnchained — Bits & BipsFigure CEO Mike CagneyDec 20, 2025
Real-World Asset Summit Brooklyn 2025: The Path to $1T OnchainReal World Asset SummitVivek Raman, EtherealizeSep 30, 2025
Real World Asset Summit. Debate 2025 Jenn Senhaji, Chronicle.Sept 18, 2025
Mary Gooneratne, Co-Founder of Loopscale, on 11AM w/ Seed Club11AM Seed ClubMary Gooneratne, LoopscaleSept 12, 2025
Talking Tokenization: Tokenizing the Future of Credit MarketsTalking TokensMary Gooneratne, LoopscaleJan 8, 2026
Other useful materials:
Figure Goes Public As HELOC Growth, Marketplace Vision Take Center StageNational Mortgage ProfessionalSept. 12, 2025
Figure’s flash crash sends $13bn worth of blockchain loans flyingDL NewsOct. 27, 2025
Ondo and Pantera Capital earmark $250 million for real-world asset tokenizationAxiosJuly 3, 2025
BlackRock tokenized fund overtakes Franklin TempletonAxiosMay 1, 2024
Centrifuge turns real world assets into loansAxiosSept 23, 2022
Planet Money: We Bought a Toxic AssetNPR2010-2011
And if you’re dying for more, today’s episode is a natural follow up to this one:
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