Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, forecasts that the market value of on-chain real-world assets (RWAs), excluding stablecoins, will surge from approximately $35 billion today to $2 trillion by 2028. Kendrick anticipates that Ethereum will be the primary platform for this growth. He projects that tokenized money market funds and publicly listed stocks will each account for $750 billion, with the remaining $500 billion comprising fund shares and other low-liquidity assets.