Private credit and the US Treasury are leading the surge to drive growth in new products, stable demand and new tokenized infrastructure chains.
The tokenized Real World Assets (RWAS) market exceeds a $30 billion milestone in chain value, highlighting the ongoing institutional and investor interest in the sector.
According to data from Rwaxyz, milestones have increased by 9% in total tokenized assets over the past 30 days. During the same period, the number of unique asset owners also increased by 7%, reaching a total of 395,939. That’s significantly higher than the 94,809 holders recorded in April.
Private credit is the largest segment of the tokenized RWA market, totaling nearly $17 billion in chains. The US Treasury debt is second in second place, exceeding $7 billion. Figure Technology leads to tokenized private credits and then leads protocols launched in 2023 during the ZKSYNC era, as well as asset manager Maple Finance.
Adoptions at the facility are driving much of this growth, experts say, as newly upgraded tokenized cash and Treasury products are boosting activities on the chain.
Key products such as BlackRock’s Buidl, Franklin Templeton’s Benji, Ondo’s Ousg and Fidelity’s ETH-based funds helped drive the RWA market beyond $30 billion.
“We’ve seen new products and upgrades over the past few weeks. It clearly moved the needle. Fidelity’s ETH-based fund has already exceeded $200 million, and Ousg’s reserves continue to climb due to 4-5% yield, immediate settlements and easy movement,” says Puckrin.
He explained that what attracts this is the combination of actual usefulness, attractive yields, and institutional validation. Puckrin added that as Stablecoins expands, more reserves are in the Treasury bill.
“Next to expand more exchanges and custodians will add RWA tokens to the collateral list, rate passes (cuts may have lower yields, but they could expand real-world use cases), and more clearer rules for tokens.
RWA is moving beyond experiments
Kony, CEO of Gaib, emphasized that RWAS will move beyond the experiment and become a core part of Decentralized Financial Finance (DEFI).
He highlighted that while current growth is concentrated in tokenized financial and credit markets, a new wave of tokenized infrastructure, including calculation, energy and other productive assets, is emerging.
Recent reports from Dune and Rwaxyz claim that RWA is moving beyond the digital version of traditional securities to the main building blocks of Defi. They also noted that Tokenization’s “real breakthrough” is its complexity, or the ability to combine and reuse assets across different protocols.
Looking ahead, Kony believes that in this next phase, RW will not only be yielding, but also “financed funding for the backbone of new and rapidly growing industries such as AI.”
Meanwhile, Arch Network CEO Matt Mudano sees Bitcoin as the next frontier.
“It’s where the largest pool of liquidity in the neglected facility is located, but there is still no opportunity for a safe and sustainable harvester,” Mudano said. “In Defi, the competition for Stablecoin yields is the highest ever, but Bitcoin (the most widely held asset among companies and sovereignty) has little access to comparable products.”