4orm estimate, derived from McKinsey base case. See market sizing notes in the data room.
McKinsey base case: $16T global tokenized real-world asset market by 2030. On-chain tokenized value today: approximately $1.5T settled cumulatively through production international tokenized-settlement systems (industry reporting; BIS Innovation Hub and bank disclosures; full citation in the data room). The question is no longer whether Canada operates on tokenized-settlement infrastructure. It is who operates it.
Four data points anchor the trajectory. They come from sources institutional buyers actually read: McKinsey, BlackRock, international tokenized-settlement reports, and the Bank of Canada. Source notes are at the bottom of every chart in the data room.
McKinsey's base case for tokenized RWAs by 2030. 75% CAGR across asset classes.
Cumulative tokenized-settlement volume processed on production international systems (industry reporting, BIS Innovation Hub and bank disclosures; full citation in the data room).
4orm's bottom-up Canadian tokenized real-world asset infrastructure fee pool, derived from McKinsey base case.
Bank of Canada Project Samara settled tokenized bond pilot with RBC, TD, and EDC.
Examples below are public market participants, named for context only; inclusion does not imply any relationship with 4orm. What Canada already has: credible asset issuers, qualified custodians, regulated stablecoin infrastructure, a securities-grade blockchain. What Canada does not yet have: institutional liquidity, a bank-aligned secondary market, an investor pool, or a settlement layer connecting these issuers to the buy-side. That's the bridge 4orm Finance is being built to be.
T-RIZE Group (Quebec tokenized real estate). Ocree Capital (Ontario exempt market dealer). Pineapple Financial (reported tokenized mortgages, approximate, subject to change per company disclosure). AuCan Gold (reported tokenized mining bullion, approximate, subject to change per company disclosure).
Stablecorp's QCAD. Cybrid. Loon. Canadian-dollar tokenized cash infrastructure already exists in production.
Tetra Trust (Canada's first qualified digital custodian). Balance Trust. Brane Trust. The custody layer is regulated and operating.
What's missing is the layer that connects them: regulated institutional liquidity, multi-bank settlement corridors, and an investor pool of size. The domestic incumbent to watch is TMX/CDS, the vertical clearing-and-settlement institution; 4orm's answer is neutrality (no single bank owns it, no vertical monopoly). That layer is the opportunity. 4orm Finance is being built to be it.
The Canadian Securities Administrators formally raised tokenization to a national regulatory initiative. The market-structure question moved from "if" to "who builds it."
Bank of Montreal announced tokenized cash and deposit infrastructure built with CME and Google Cloud. A second Tier-1 Canadian bank moving on production-grade tokenized infrastructure.
$100M tokenized bond trial completed with RBC, TD, and EDC. Full lifecycle, regulatory sign-off from OSC, AMF, and CIRO. The reference architecture for what comes next.
Whoever operates the neutral settlement layer sets the standard.
The 4orm Master Pro Forma breaks Canadian tokenized real-world asset infrastructure fee pools into bottom-up scenarios. McKinsey base case is the conservative anchor. Access is granted to qualified institutional and accredited parties after a brief founder conversation.