Changpeng Zhao, Binance’s founder known as CZ, said he underestimated the growth potential of the real-world asset, or RWA (tokenized traditional assets), market. In a recent interview for "Binance Clubhouse Bali 2026," he said that about a year and a half ago he did not expect the sector to reach its current scale, but is now beginning to understand its appeal. Zhao also said he failed to anticipate the mainstream popularity of non-fungible tokens and the market attention drawn by meme coins. The RWA market has been expanding as U.S. Treasuries, stocks and private credit are tokenized on blockchain networks, while global financial firms and crypto companies build related products and infrastructure.