Standard Chartered released a research report on May 18 projecting that tokenized real-world assets will reach $4 trillion in total value by the end of 2028, with DeFi protocols expected to be the primary beneficiaries of this migration. The forecast represents one of the higher institutional estimates in circulation and is notable given the bank's simultaneous move to absorb Zodia Custody and build out its own digital asset infrastructure.
For Armada's crypto repo desk, the $4T figure provides a credible third-party anchor for the collateral market that tokenized T-Bills will inhabit. As tokenized assets scale, repo facilities that can accept them as collateral without rehypothecation and with institutional-grade custody will be in high demand from the hedge funds, family offices, and market makers that StanChart identifies as early adopters. This forecast should inform Armada's collateral eligibility roadmap and fundraising narrative.