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Stani Kulechov, founder of DeFi lending protocol Aave, believes decentralised finance could tap into as much as $50 trillion in new onchain assets by 2050, not by tokenising bonds or equities, but by financing physical infrastructure such as solar energy installations and robotics systems.
Kulechov made the remarks in February 2026, outlining a vision in which blockchain-based lending expands beyond traditional crypto collateral into what he calls abundance assets.
The proposal targets a fundamental shift in how capital flows through global markets, potentially opening new yield opportunities for crypto investors while reshaping decentralized lending models.
The comments arrive as tokenized real-world assets (RWAs) gain traction across the industry, with roughly $25 billion already brought onchain, primarily through tokenized U.S. Treasuries, private credit, commodities, and real estate.
Kulechov’s central argument is that DeFi’s next expansion will not come from scarce financial assets like bonds or property but from scalable infrastructure sectors capable of generating continuous growth.
“Capital is hungry for new collateral, and the world is ready for a transformation that onchain lending can capture and accelerate.” Kulechov said in a public statement.
He estimates that solar energy alone could account for $15 trillion to $30 trillion of the projected market by mid-century.
Unlike traditional infrastructure investments, where capital may remain locked for decades, tokenization allows fractional ownership and continuous trading.
DeFi platforms could evolve from speculative lending markets into financing rails for real-world economic expansion.
The tokenization narrative has accelerated as decentralized finance searches for sustainable growth beyond volatile crypto cycles.
While early DeFi adoption focused on crypto-native assets such as Ether and stablecoins, industry leaders increasingly view RWAs as the bridge connecting traditional finance and blockchain.
Kulechov has previously described tokenized assets as a multi-trillion-dollar opportunity capable of bringing equities, bonds, and other financial instruments onto transparent blockchain infrastructure.
Current tokenization efforts remain heavily concentrated in traditional financial products.
Data cited by industry trackers shows most onchain RWAs today consist of government debt instruments and credit markets rather than productive infrastructure.
Kulechov believes this imbalance limits DeFi’s long-term potential.
His thesis suggests future crypto yields may increasingly depend on real economic output, energy generation, automation, and manufacturing rather than purely financial arbitrage.
Under Kulechov’s proposed model, developers of large infrastructure projects could tokenize financing structures directly onchain.
A $100 million solar installation could issue tokenized debt, borrow against it through DeFi lending markets, and recycle capital into new projects while investors earn yield from real-world cash flows.
This structure could create several potential advantages for crypto investors:
Diversified yield sources: Exposure to energy and industrial growth rather than crypto price volatility alone.
Improved liquidity: Tradable infrastructure exposure instead of long lock-up investment periods.
Programmable finance: Automated lending and collateral management through smart contracts.
Industry analysts say such models could fundamentally change how decentralized finance competes with traditional banking.
Despite optimism, large-scale tokenization faces major obstacles. Regulatory frameworks for tokenized securities remain fragmented across jurisdictions, and liquidity for existing RWAs is still relatively limited compared to crypto-native assets.
Additionally, institutional participation, viewed as essential for scaling, requires compliance systems that many decentralized platforms are only beginning to develop.
Aave itself has already started building infrastructure aimed at bridging this gap. Its institutional-focused initiatives seek to allow tokenized financial instruments to serve as collateral for borrowing.
If realized, that vision could transform decentralized finance from a niche crypto sector into a financing backbone for real-world industries.
