Cryptocurrencies supporting the real-world asset tokenization area pumped 11% this week as the overall worth of tokenized RWAs hit a brand new report excessive.
Over the previous seven days, the RWA token market cap has surged from round $67 billion to an all-time excessive of just under $76 billion on Friday, according to CoinMarketCap.
The class of cryptocurrencies pertains to protocols and tasks with a powerful give attention to tokenization, akin to blockchain oracle supplier Chainlink (LINK), high-speed layer-1 chain Avalanche (AVAX), and institutional RWA DeFi platform Ondo Finance (ONDO), which has surged 9% on the day.
RWA onchain worth peaks
The surge in RWA tokens has coincided with a pointy enhance within the complete worth of tokenized belongings onchain, which topped $29 billion for the primary time this week, according to RWA.xyz.
Complete worth onchain has nearly doubled for the reason that starting of this 12 months as extra monetary establishments begin providing merchandise onchain.
Associated: Ethereum added $1B of stablecoins almost every day last week
Greater than half of the overall is tokenized non-public credit score, and round 1 / 4 is tokenized US treasurys, with the rest being tokenized commodities, various funds, equities and bonds.
When stablecoins are included, the overall worth is at a report $307 billion.
Greater than three-quarters of this complete worth is tokenized on Ethereum and layer-2 networks.
Tokenization is “now being pushed by the US authorities in an effort to modernize US markets,” crypto investor Ryan Sean Adams said Thursday on X, including that Wall Road and fintech companies at the moment are incentivized to make this occur.
BlackRock to tokenize ETFs
In the meantime, the world’s largest asset supervisor, BlackRock, is exploring tokenizing its exchange-traded funds (ETFs) on the blockchain, according to current experiences.
The transfer follows BlackRock’s profitable launch of the USD Institutional Digital Liquidity Fund (BUIDL), a tokenized money-market fund launched on Ethereum in 2024 that has grown to round $2.2 billion in belongings underneath administration.
BlackRock CEO Larry Fink has beforehand said that each monetary asset will be tokenized, adding that it’s going to “democratize finance.”
Journal: Thailand’s ‘Big Secret’ crypto hack, Chinese developer’s RWA tokens: Asia Express
