Hosted by Tokocrypto · Speaker: Chung Ying, Founder of Pruv Finance
We're not talking about a niche experiment anymore. The on-chain RWA market has grown over 380% in just three years, crossing $30 billion in 2026 — with analysts projecting anywhere from $2 trillion to $30 trillion in tokenized assets by the end of the decade. BlackRock, Franklin Templeton, Goldman Sachs — the biggest names in traditional finance are now building on-chain. The infrastructure moment has arrived.
And while the giants are still figuring out their playbook, we at Pruv Finance have been heads-down building something different: a regulated, retail-accessible gateway to global yield. Not institutional-only. Not locked in walled gardens. Real assets, on-chain, for everyone.
Our founder Chung Ying recently sat down with Tokocrypto for a deep-dive AMA to break it all down. Here's the full recap.
What Is RWA — And Why Does It Matter Now?
Chung Ying: RWA isn't a new concept. It's been hiding in plain sight. Every time you've held USDT or USDC, you've been holding a tokenized real-world asset. The same logic now applies to bonds, credit funds, private equity, commodities, and more. What's changed is the technology has finally matured to the point where this can be done at scale, compliantly, and with real investor protections.
RWA is simply about bringing assets from the real world onto the blockchain. Stablecoins proved the model works. Now we're applying the same logic to an entirely new universe of assets — credit funds, income funds, even sports infrastructure. The technology is ready. The regulation is catching up. And the appetite from both investors and institutions is enormous. We're sitting at the beginning of what could be the largest capital migration in financial history.
The numbers back this up. Private credit alone accounts for over $17 billion of the current on-chain RWA market. Tokenized US Treasuries have surpassed $7 billion. And this is still early days — we're at less than 0.02% of the global equities market. The runway is enormous.
Unlocking Global Yield for Every Web3 Investor
Chung Ying: Here's the problem we set out to solve. The world's best-performing investment funds — institutional credit strategies, global income funds, private lending portfolios — have historically been locked behind gates that only accredited investors and institutions can access. Minimum investments in the hundreds of thousands. Complex onboarding. Geography-restricted.
We're tearing those gates down.
When we talk about global RWA yield, we mean giving everyday Web3 investors across the world access to investment products that were previously only available to institutions. Tokenized credit funds in the US generating around 10% APY. Funds in Brazil delivering up to 15% APY. These are real, regulated products managed by licensed fund managers. You participate using USDT or USDC, from your own wallet, with full on-chain transparency. That's what financial equality looks like in Web3.
A concrete example of this in action: we recently partnered with OJK-licensed Simpan Asset Management to tokenize the Simpan Dollar Income Fund ($SDIF) — a diversified fixed income and direct lending strategy that deploys capital into institutional-grade funds like the Monroe Income Plus Fund and Origin Strategic Credit Fund. These were previously inaccessible to retail investors. Now they're on-chain.
How We Ensure Transparency & Security
Chung Ying: Trust is the foundation of everything we build. In an industry still scarred by collapses and rug pulls, we've made security and verifiability non-negotiable.
1. Everything Happens On-Chain
Every activity on Pruv — from minting new RWA tokens to redemption — is conducted on-chain and verifiable on the blockchain. You don't deposit funds into an exchange or trust a centralized custodian. You interact directly through your own wallet and smart contracts. Every transaction leaves an immutable audit trail. That level of transparency is something traditional finance has never been able to offer.
2. Legal Verification Before Every Issuance
Before any RWA token is issued through Pruv, we go through a rigorous whitelisting process. We verify the legal ownership of the underlying asset, validate all documentation, and ensure full compliance with the applicable regulatory framework. No token reaches an investor's wallet until it has been legally validated end-to-end. This is what PRUV stands for — Proven Registry for Uncompromised Validation. It's not just a name. It's a commitment.
We also operate a purpose-built public-permissioned blockchain — balancing the openness of DeFi with the compliance controls that institutional-grade assets require. Validator nodes are run by trusted financial institutions, not anonymous actors.
The Web3 Portfolio Is Evolving — And RWA Is the Next Chapter
Chung Ying: Think about how Web3 portfolios have changed over the years. Each wave introduced a new asset class that reshaped how investors think about allocation:
Before stablecoins: 100% crypto — pure speculation, no stable store of value
After stablecoins: ~50% crypto, ~50% stablecoins — stability entered the equation
With RWA: ~33% crypto, ~33% stablecoins, ~33% RWA — real yield completes the picture
Every major evolution in Web3 has expanded what a portfolio can look like. Stablecoins gave investors a place to park capital without leaving the ecosystem. RWA takes that further — it gives you a place to grow capital, with real, sustainable yield backed by real-world assets. I genuinely believe we're at the beginning of this shift. Five years from now, a balanced Web3 portfolio without an RWA allocation will look as outdated as one without stablecoins looks today.
Where RWA Is Headed: Our 3–5 Year Vision
Chung Ying: The macro tailwinds are undeniable. Standard Chartered projects the RWA market could reach $30 trillion by 2034. BCG's estimate is $16 trillion by 2030. Even McKinsey's conservative case sits at $2–4 trillion. We're not chasing a niche — we're building infrastructure for the next decade of global finance.
The next 3–5 years will see RWA become core infrastructure for DeFi — not just an add-on narrative. When US interest rates were high, we saw massive demand for tokenized money market funds offering 5%+ yields. As rates have come down, capital has rotated into tokenized credit funds offering 8–15%. This is exactly how traditional fixed income markets work — and RWA is importing that maturity into Web3. Going forward, we expect tokenization to expand into raw materials, commodities, and even infrastructure assets like the padel court facilities we recently tokenized with Manta Network. Any asset with a predictable cash flow is a candidate. And we intend to be the rails that bring it on-chain.
On the infrastructure side, we're building a purpose-built RWA Layer 1 designed to support billions in tokenized government bonds, credit portfolios, and sovereign-backed yield products — starting from Indonesia, scaling globally. Our goal is to make Indonesia one of the world's premier jurisdictions for RWA tokenization. We're already working with OJK on the regulatory framework to get there.
Community Q&A
Q1 — TRUST & COMMUNITY EDUCATION
Many people are skeptical about RWA because it feels too institutional. How do you build trust with retail Web3 users?
Chung Ying: It's a fair concern — and one we hear often. Historically, RWA platforms were designed exclusively for institutions. Singapore's ADDX and InvestaX, the US-based Securitize — these are great platforms, but they're built for accredited investors with high minimums and complex onboarding. The retail Web3 community was an afterthought.
We built Pruv to flip that.
Pruv is among the first platforms in the world to receive regulatory approval — specifically under OJK's Digital Financial Assets (DFA) sandbox — that allows retail Web3 users to legally hold, transfer, and invest in RWA tokens. That's a meaningful distinction. Assets issued through us are transferable on-chain, meaning retail investors can access them on secondary markets. We're not a walled garden. We believe in true Web3 composability — and that starts with making sure real people can actually participate. Trust is built through transparency, legal compliance, and track record. We're committed to all three.
Q2 — YIELD STABILITY
With global interest rates fluctuating, how does Pruv ensure yields stay stable and sustainable for long-term investors?
Chung Ying: Rate volatility is a real challenge for yield-focused products — and it's something we think about deeply when selecting which assets to tokenize. The key is diversification across asset types and geographies, with a clear focus on instruments that deliver consistent, contractual returns over a defined horizon.
Our focus in 2026 is on tokenizing high-yield private credit funds with structured returns in the 8–15% range over a 3–5 year horizon. These aren't floating-rate products chasing whatever the Fed is doing — they're contractual yield strategies with defined terms, built for investors who want predictability. The beauty of the RWA category is its breadth. When US rate environments change, we rotate. When one geography offers better risk-adjusted yield, we go there. We recently tokenized the Simpan Dollar Income Fund — a diversified income strategy that draws from global credit and direct lending pools — precisely because it delivers stable yield that isn't correlated to crypto market cycles. That's the kind of product we want to bring more of to our community.
Q3 — REGULATION & INVESTOR PROTECTION
Regulators are increasingly recognizing tokenized assets as collateral. How does Pruv leverage this trend to protect investors?
Chung Ying: This is something we feel very strongly about — and it's why we spent nearly two years working with OJK before launching a single product. Regulation isn't a constraint for us. It's a feature.
The question most investors ask is 'how much can I earn?' But the question they should be asking is 'what can I do if something goes wrong?' In DeFi, the answer to that second question is often: nothing. With Pruv, the answer is: you have a legal pathway. We operate under OJK's DFA framework, which means our tokens are recognized as a legitimate asset class under Indonesian law. Investors have real recourse. As global regulators continue to recognize tokenized assets as valid collateral — which is already happening in Singapore, the UAE, and increasingly in the US — we expect RWA to unlock a whole new layer of DeFi utility: using your tokenized fund shares as collateral for lending, borrowing, and liquidity. That's the future we're building toward, and the regulatory groundwork we've laid makes us uniquely positioned to get there.
The Bottom Line
The RWA market has crossed $30 billion. BlackRock is building on-chain. Indonesia's OJK has created a dedicated regulatory framework. The infrastructure, the regulation, and the institutional momentum are all converging — right now.
At Pruv, we've been building for this moment. We're not here to follow the narrative. We're here to be the infrastructure that makes it real — for institutions, and for the everyday Web3 investor who deserves access to the same quality of financial products as anyone on Wall Street.
Our mission is financial equality through RWA. And we're just getting started.