Robinhood has submitted a 42-page proposal to the U.S. Securities and Exchange Commission (SEC) seeking to establish the first federal regulatory framework for real-world asset (RWA) tokenization. The proposal aims to recognize RWA tokens as legal equivalents to their underlying assets and enable off-chain matching with on-chain settlement. This initiative is intended to modernize Wall Street rules and could lay the regulatory foundation for a $30 trillion tokenized market, potentially reshaping capital flows across financial markets. The development has been described as a major milestone for the industry. Concurrently, projects like Injective, DIA, and Pyth Network are advancing infrastructure and data feeds to support tokenized RWAs, including stocks, bonds, foreign exchange, and U.S. Treasuries, facilitating decentralized finance applications and real-time pricing on blockchain platforms such as Solana.