Trust Wallet, the self-custodial crypto wallet owned by Binance co-founder Changpeng “CZ” Zhao, has launched tokenised stocks and exchange-traded funds (ETFs) on its platform. The move expands access to real-world assets (RWAs) within decentralised finance (DeFi), marking a significant step towards blending traditional markets with blockchain technology.
Collaboration with Ondo and 1inch
The launch is the result of a collaboration with Ondo Finance and decentralised exchange aggregator 1inch. Ondo provides tokenised assets including stocks, ETFs and bonds, which are initially issued on Ethereum, while Solana integration is planned. At the same time, 1inch Fusion technology supports liquidity and pricing to enable efficient swaps.
“Integrating RWAs into self-custodial wallets is an important step in making global finance more open and efficient,” Trust Wallet chief executive Eowyn Chen said. She added that blockchain offers a path to a more inclusive financial system by democratising access to investment opportunities.
 Trust Wallet-supported RWA offering allows minimum investment of $1 and doesn’t require local brokerage or documents. Source: Trust Wallet
Sami Waittinen, Trust Wallet’s marketing head, explained the partnership simply: “Ondo brings the assets, 1inch powers the rails, and Trust Wallet makes it accessible in self-custody.” He noted that the company aims to integrate additional providers and liquidity sources over time to broaden access.
Regional restrictions and trading hours
Despite its global ambitions, the service is not available everywhere. Trust Wallet’s website confirms that RWA tokens cannot be accessed in certain jurisdictions, including the United States, the United Kingdom and the European Economic Area. “Your swap will not go through if you reside in a region where RWA tokens are not available,” the company said.
Trading also follows US market hours, from Monday to Friday, 1:30 pm to 8:00 pm UTC. Off-hours trading is not yet supported, although Trust Wallet said it monitors activity outside market hours with the aim of introducing features such as round-the-clock trading and limit orders in the future.
Linking self-custody with real-world assets
By introducing RWAs within a self-custodial framework, Trust Wallet has become one of the first platforms to merge these two concepts. Self-custody enables users to control their assets without relying on centralised institutions, while tokenised RWAs represent digital certificates of ownership tied to traditional financial instruments.
“Tokenised RWAs are a natural next step as they unlock traditionally gated assets like stocks or ETFs and make them accessible to anyone, anywhere, from their own wallet,” Waittinen said. “It is a powerful extension of what self-custody can mean.”
The ownership debate
While the technology allows RWAs to be stored in self-custodial wallets, the question of true ownership remains. Lucien Bourdon, an analyst at hardware wallet maker Trezor, noted that from a wallet’s perspective, there is little difference between a cryptocurrency token and a tokenised asset. “If a blockchain supports real-world asset tokens, any self-custodial hardware wallet that supports that chain can hold them securely,” he said.
Trust Wallet users can swap USDC into RWAs. Source: Trust Wallet
However, Bourdon emphasised that ownership is not the same as with cryptocurrencies. “With crypto, your keys equal direct ownership of the asset. With real-world assets or stablecoins, your keys secure the token, but the underlying asset remains with an issuer or custodian,” he explained. This means that while self-custody offers technical control, trust in the issuing party remains essential.
A step towards broader adoption
Trust Wallet’s move reflects the growing push within the crypto industry to bring traditional assets into the decentralised ecosystem. By bridging the gap between blockchain and conventional finance, the company positions itself at the forefront of a trend that could expand access to investment markets worldwide.
Although limitations remain, particularly around regulatory barriers and trading hours, the integration of tokenised stocks and ETFs represents a notable milestone in the evolution of self-custody wallets.
