How Tokenization Platforms Will Make Money

ByL

Tokenization isn’t just a tech upgrade — it’s a new revenue model. Platforms like Coinbase Tokenize, JPMorgan Onyx, and Goldman GS DAP monetize RWAs across multiple layers of the financial stack.

Here’s how it works:

  • Issuance Fees: Coinbase charges issuers to tokenize assets — think $200K–$500K per deal, depending on complexity.
  • Custody Fees: Institutional clients pay 25–50 bps annually to store tokenized assets securely.
  • Trading Fees: Secondary market transactions incur 0.1–0.5% per trade, similar to Coinbase Exchange.
  • Settlement Fees: On-chain settlement via Base generates sequencer fees, MEV capture, and data availability revenue.
  • Compliance Services: Platforms offer KYC, audit trails, and permissioned access — monetized like SaaS.
  • API Licensing: Enterprise clients pay for integration, lifecycle management, and white-label issuance.

Coinbase also benefits from USDC float and velocity. More tokenized assets mean more stablecoin usage — generating interest income and reinforcing its role as a settlement layer.

Unlike traditional finance, where fees are siloed, tokenization platforms monetize every layer: issuance, custody, trading, settlement, and compliance. It’s a vertically integrated model with high margins and recurring revenue.

As RWAs scale, these platforms won’t just digitize assets — they’ll reshape how financial infrastructure earns.

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