BTC Markets targets 16 trillion RWA Bitcoin, applies for Australian tokenized market license

Australia’s cryptocurrency exchange BTC Markets has officially notified the Australian Securities and Investments Commission (ASIC) of its intention to apply for a market license to offer regulated trading of tokenized real-world assets (RWA). Institutions such as Boston Consulting Group estimate that the global tokenization market could reach $16 trillion by 2030.

BTC Markets’ RWA License Plan: From Notification to Implementation

According to Dobbins, BTC Markets’ core goal is “to obtain the necessary licensing infrastructure so that certain types of tokenized assets can be offered and used by the public.” This statement marks BTC Markets’ strategic shift from a pure cryptocurrency exchange to a regulated RWA market operator.

Dobbins emphasizes that the key turning point for tokenization has arrived: “What has changed is that this is no longer just theoretical discussion. Institutions like BlackRock, Goldman Sachs, and JPMorgan are already launching actual products.” Currently, with $26 billion in tokenized assets on-chain, he sees this not as the end but as the beginning — even conservatively estimated, the tokenization market could surpass $2 trillion by the 2030s.

Global Tokenization Race: Who Is Leading the Way

(Source: RWA.xyz)

As BTC Markets applies for its license, the global competition in the tokenized RWA track has intensified:

• Kraken: Launched the “xStocks” tokenized stock platform in June 2025; in March 2026, launched the on-chain trading engine “xChange,” supporting tokenized stock trading on Ethereum and Solana.

• Robinhood: Announced plans to launch a tokenized stock trading platform for the European market in 2025.

• Intercontinental Exchange (ICE): In January this year, announced development of a platform supporting tokenized securities (including stocks and ETFs).

• Nasdaq: Proposed integrating tokenized versions of stocks and ETPs into existing trading infrastructure.

• Coinbase: Announced last December the launch of “Coinbase Tokenize,” an institutional platform for issuing and managing tokenized RWAs.

BTC Markets aims to replicate the layout of these leading international platforms within Australia, establishing a licensed domestic tokenized market infrastructure first.

Opportunities in Australia’s Tokenization Market: $16.8 Billion Annual Revenue Potential

Dobbins cites research from the Australian Digital Finance Cooperative Research Centre, indicating that the tokenization market could generate approximately AUD 24 billion (about USD 16.8 billion) annually for Australia, accounting for roughly 1% of GDP. However, based on current development trajectories, Australia might only capture around USD 100 million by 2030 — a gap BTC Markets’ move aims to fill.

Dobbins emphasizes that Australia has several advantageous structural factors: “Strong regulation, deep capital markets, and one of the world’s largest pension systems.” He expects the first tokenization applications to focus on private markets, infrastructure investments, and fund distributions — areas where tokenization can significantly improve efficiency and investment accessibility.

According to the latest data from RWA.xyz, the total on-chain tokenized RWA value is $26.5 billion, with Ethereum holding the largest share at 57.4% (excluding Layer-2 and EVM-compatible platforms).

Frequently Asked Questions

Q: What exactly does the RWA market license application by BTC Markets entail?
The RWA market license permits a regulated exchange to provide services for trading and issuing tokenized real-world assets (such as stocks, bonds, fund shares) within a compliant framework. BTC Markets has notified ASIC of its intent to apply; if approved, it will become one of Australia’s first licensed tokenized RWA trading platforms, expanding beyond its current focus solely on cryptocurrency spot trading.

Q: Why does Dobbins say that the current $26 billion in tokenized assets is “just proof of concept”?
Dobbins means that, compared to the estimated potential market size of up to $16 trillion, the current $26 billion in on-chain tokenized assets is a tiny fraction, representing early exploration rather than scaled deployment. The involvement of institutions like BlackRock and Goldman Sachs marks a turning point from “concept” to “product,” but the true market explosion has yet to arrive.

Q: What competitive advantages does Australia have in the global tokenization race?
According to BTC Markets, Australia has three main structural advantages: a mature regulatory framework (with ASIC establishing relatively clear rules for crypto assets and fintech), deep capital markets (large institutional investors and a rich financial ecosystem), and one of the world’s largest pension systems (superannuation), whose massive asset management scale provides a natural demand base for tokenized assets.