The Ethereum community has officially signed off on the ERC-3643 Ethereum Improvement Proposal (EIP), establishing it as a recognized standard for compliant tokenization of real-world assets (RWAs).

According to a Dec. 15 announcement, the proposal reached its final status, meaning it has been formally reviewed, discussed and agreed upon within the Ethereum community. It’s a similar process to the way ERC-20 and other popular standards were established in the past.

Management consulting firm Roland Berger estimates that asset tokenization will have grown to a market worth $10 trillion by 2030, a significant rise from the current value of around $300 billion.

Asset tokenization is being considered by a wide range of traditional and crypto-native firms as one of the main trends in finance. Notable companies exploring the technology include JPMorgan, Goldman Sachs and Societe Generale. Data from VanEck Research shows the total market capitalization for RWAs reached $342 billion in September despite the crypto industry’s headwinds.$ETH