According to @TATrader_Alan, the tokenization of real-world assets (RWA) is rapidly evolving beyond its initial successes in stablecoins and tokenized money market funds. The analysis identifies structured credit and private funds as the next significant growth areas, poised to enter the steep part of the adoption S-curve. Key benefits of tokenizing these assets include enhanced transparency, streamlined debt servicing via smart contracts, and substantially lower operational costs, which could prevent opaque scenarios like the 2008 financial crisis. The report highlights that while industry leaders like Apollo and Hamilton Lane are already tokenizing funds, the full potential will be unlocked as DeFi and TradFi converge. Future growth hinges on technological drivers like Layer 1/2 scaling and on-chain identity, alongside market drivers such as regulatory clarity and institutional adoption. However, significant hurdles remain, particularly the need for comprehensive US stablecoin legislation and effective KYC/AML solutions for public blockchains.