$46.2B in tokenized RWAs now live across chains, led by $13.7B in U.S. T-bills, with 5.8M holders and $3.5B in DeFi deposits.
DeFi & Yields ·
The tokenized real-world asset market has reached $46.2 billion across blockchain networks, with U.S. Treasury bills comprising $13.7 billion of that total. The expansion reflects growing adoption beyond initial issuance phases, evidenced by 5.8 million holders now participating in the ecosystem. Daily decentralized exchange trading volume reached $712.9 million, indicating sustained market activity.
Deployment into decentralized finance protocols has accelerated, with $3.5 billion currently deposited across various platforms. This shift underscores a transition from tokenization mechanics alone toward active utilization and yield generation. The market is demonstrating capacity to support diverse asset types and trading patterns across multiple blockchain networks simultaneously.
What remains unclear is the timeline and scale at which additional asset classes will move onchain, as well as which blockchain networks will capture the largest share of future issuance. The sustainability of current trading volumes and whether yield rates will remain competitive with traditional finance alternatives also remain open questions as the market matures.