RWA tokenization shifts the failure point from bank balance sheets to whitelists, oracles, bridge controls, transfer agents, and smart-contract admin keys; RWA.xyz shows $32.4B in distributed asset value and $379.3B in represented asset value. That matters because BlackRock BUIDL is already $2.23B, Circle USYC is $3.11B, and Securitize put SECZ on Avalanche/Solana while listing on NYSE on July 2, 2026.

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