Ian De Bode, Chief Strategy Officer at Ondo, described the rapid growth of RWA tokenization as an “arms race,” noting heightened competition among firms and exchanges entering the space

Quotes that support claims

We are seeing a bit of an arms race right now” in the tokenization market, De Bode told Axios, referring to the surge of companies entering the space. Exchanges in particular are zeroing in on tokenized stocks and exchange-traded fund (ETF) offerings.