Bridgetower

Securitize

Circle

Tether Holdings

Tokeny by Apex

Centrifuge

OpenTrade (Perimeter Protocol)

Avant Protocol

Franklin Templeton Benji Investments

Galaxy Digital

Asseto

Republic

LayerZero Avalanche Bridge

tZERO

Plume Vaults

Backed Finance

Agora Ledger

KAIO

Xfers Pte Ltd

WisdomTree

Schuman Financial

Fireblocks

Bitso

LayerZero OFT

Brale

Hashfire

Dinari

Frax Finance

Chainlink CCIP

Mountain Protocol

BCP Technologies

Frankencoin Protocol

Midas

Specialty Finance

Stablecoins

US Treasury Debt

Active Strategies

Stocks

Corporate Credit

Diversified Credit

Asset-Backed Credit

Private Equity

non-US Government Debt

Venture Capital

Commodities

Cryptocurrencies

DOM X

BlackRock

Skybridge Capital

Anemoy

Five Sigma

Franklin Templeton

Galaxy Digital Capital Management

Re Member Fund Management Co LLC

Fisherman Capital

Securitize Capital

Arca Capital Management

VanEck Associates Corporation

Laser Digital

WisdomTree Digital Management

VanEck Absolute Return Advisers Corporation

Tether

Wellington Management

Avalanche is an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. Anchored by a public, permissionless liquidity hub (c-chain), the network’s architecture allows for the creation of sovereign, efficient and fully interoperable public and private layer 1 (L1) blockchains which leverage the Avalanche Consensus Mechanism to achieve high throughput and near-instant transaction finality. The ease and speed of launching an L1, and the breadth of architectural customization choices, make Avalanche the perfect environment for a composable multi-chain future. Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building decentralized applications (dApps). With its combination of speed, flexibility, and scalability, Avalanche is the platform of choice for innovators pushing the boundaries of blockchain technology.

Frankencoin is a decentralized, oracle-free protocol issuing ZCHF, an overcollateralized Swiss franc stablecoin backed by on-chain crypto collateral and governed by Frankencoin Pool Share holders. ZCHF is designed to track CHF 1:1 without relying on a centralized issuer, bank deposit reserve or price oracle

Securitize provides businesses a platform to raise capital from institutional, accredited or retail investors with shares issued as digital tokens.

Securitize Corp.

Hashfire converts government-backed and investment-grade receivables and specialty finance obligations into authenticated, blockchain-native digital assets, serviced end-to-end from origination through repayment and secondary trading. Its private credit vaults give institutional and DeFi capital access to short-duration, yield-generating RWAs backed by auditable cash flows and automated servicing.

Aureum Securitisation Fund

Neuberger Securitize High Income Tokenized Fund Ltd.

Backed Assets

WisdomTree Short-Term Treasury Digital Fund

WisdomTree Floating Rate Treasury Digital Fund

WisdomTree Long Term Treasury Digital Fund

WisdomTree 7-10 Year Treasury Digital Fund

WisdomTree 3-7 Year Treasury Digital Fund

WisdomTree TIPS Digital Fund

WisdomTree Government Money Market Digital Fund

Anemoy is a Web3-native fund company revolutionizing onchain finance by delivering tokenization and onchain asset management. Built on the Centrifuge protocol, Anemoy provides institutional-grade investment opportunities within DeFi.

Anemoy is a pioneer with strategic partnerships like Janus Henderson Investors asset management for the onchain era. The Janus Henderson Anemoy Treasury Fund Segregated Portfolio (JTRSY) is the highest rated in the industry by Moody’s, S&P and Particula. Anemoy leverages blockchain technology to maximize operational efficiency, transparency, and investor access, setting new benchmarks for institutional-grade tokenized funds.

Mountain Protocol issues USDM, a regulated, yield-bearing stablecoin redeemable at a 1:1 USD value, with daily rebases benefiting users through US Treasury interest​​.

Ethena

The customer-facing entity that issues and redeems Tether Gold (XAU₮) tokens. Each XAU₮ represents ownership of one fine troy ounce of gold on a London Good Delivery bar.

TG Commodities

Brale is a stablecoin issuance and tokenization platform that helps businesses create bespoke stablecoins and digital assets.

OpenTrade provides an institutional grade platform for lending and yield products designed for fintechs and institutional investors across Web2 and Web3 ecosystems. Our offerings combines a technology platform with legal and operational frameworks and services that together support safe, compliant, and scalable lending and yields products for the next generation of financial services & markets.

OpenTrade

Dinari Securities Backed Tokens (dShares) provide direct exposure to the world's most trusted assets such as Google and Apple shares.

Agora is building a next-generation payments and operations platform.  Agora is the minter of AUSD a 1:1 fully collateralized, freely tradeable USD stablecoin.

Agora

Tether facilitates fiat currency use digitally on a blockchain, disrupting traditional finance. It enables transactions with stable, familiar currencies on the blockchain, reducing typical digital currency volatility and complexity, and eases cross-border transactions.

KKR Health Care Strategic Growth II Securitize Fund

BlackRock USD Institutional Digital Liquidity Fund

Circle is a fintech firm central to the emerging internet of money, enabling instant, affordable global transactions. Its infrastructure, including USDC, a dollar stablecoin, supports businesses, institutions, and developers, unlocking new opportunities in payments and commerce.

Libre SAF VCC

Securitize Tokenized Apollo Diversified Credit Fund

WisdomTree 500 Digital Fund

WisdomTree Technology & Innovation 100 Digital Fund

WisdomTree Siegel Global Equity Digital Fund

WisdomTree Siegel Moderate Digital Fund

WisdomTree Siegel Longevity Digital Fund

WisdomTree Short-Duration Income Digital Fund

The Re Protocol is a groundbreaking innovation that bridges the gap between traditional insurance markets and decentralized finance (DeFi). Built on blockchain technology, Re Protocol introduces an unprecedented level of transparency, efficiency, and accessibility to the global reinsurance market—a multi-trillion-dollar industry historically characterized by opacity and reliance on intermediaries.
At its core, Re Protocol facilitates direct, efficient capital allocation to reinsurance contracts. This is achieved through a network of interconnected smart contracts and an architecture designed for auditable, secure operations. Participants in the protocol gain exposure to the returns of the reinsurance sector without the traditional barriers of entry, while simultaneously benefiting from the transparency and automation enabled by blockchain.

USYC lets you earn short-term Fed rate returns. Assets are deployed in reverse repo, with some allocated to T-Bills, to ensure maximum liquidity and minimum duration risk.

Circle International

Juno is the issuer of MXNB, a fully-reserved Mexican Peso stablecoin backed by the most trusted Mexican company in digital assets, Bitso.

Juno (a Bitso company)

VanEck Treasury Fund

Institutional-Grade Yield from Real-World Assets

Earn market-leading APYs from all RWAs on Plume Network. Start growing your wealth today with strategies designed for everyone.

Avant delivers the highest risk-adjusted yield on your assets. Powered by real on-chain strategies and fully non-custodial.

Avant Technology Foundation

GEMx AG is growing its role as a leader in the real-world assets sector with the launch of the world’s first USD 2 billion institutional-grade emerald investment opportunity. Headquartered in Zug, Switzerland, the company connects the lasting value of rare gemstones with modern blockchain technology.

Its flagship product, EmGEMx, offers fractional ownership in a carefully selected and securely stored portfolio of emeralds. The gemstones are appraised by trusted gemological laboratories such as Gübelin and WGI, and the investment structure is audited by global firm Grant Thornton. The opportunity is further supported by strategic partners including Chainlink, Fireblocks, Zodia Custody, and Seabury Capital Group.

Targeting the USD 60 billion colored gemstone market and the rapidly growing USD 16 trillion real-world asset space, GEMx combines strong institutional focus, a robust compliance framework, and high-level partnerships to deliver a secure and forward-looking investment opportunity.

GEMx AG

Delta Wellington Ultra Short Treasury On-Chain Fund

The leading platform for tokenized financial products.‍ Brings the full power of onchain finance to asset managers and investors.

Schuman Financial is the leading provider of technologies, infrastructure, and solutions for European stablecoin-based finance. We are bringing European and euro-denominated financial services on-chain. Our core product is EURØP, a euro-denominated stablecoin issued by our French-licensed subsidiary regulated by Banque de France. 

The Wyoming Stable Token Commission is a body politic and corporate created under Wyoming law as an instrumentality of the State of Wyoming to issue and manage the Wyoming Stable Token. Established by the Wyoming Stable Token Act, the Commission oversees the token’s issuance, reserves, and operations to ensure it maintains a stable value, typically pegged to the U.S. dollar. Its mandate includes promoting financial innovation while safeguarding public trust through prudent reserve management and statutory compliance.

The State of Wyoming - Wyoming Stable Token Commission

Resilience BVI Ltd.

Legion Strategies

Securitize Capital ParaFi Venture II Tokenized Fund

Digital Macro Fund Ltd. is a Cayman-based hedge fund managed by SkyBridge Capital II, LLC that invests in digital assets not classified as securities. It serves as a feeder into the Digital Macro Master Fund and follows a macro-driven strategy across crypto markets.

Digital Macro Fund

Embrace One SPC Quantitative Arbitrage

BCP Technologies is an FCA-registered cryptoasset firm in the UK and the issuer of Tokenised GBP (tGBP)

Korea-based institutional digital-asset custodian; founded 2022; KoFIU-registered VASP with bank/crypto partnerships.

BDACS

Issuing entity behind Galaxy's 75$M tokenized CLO.

Galaxy CLO 2025-1 LLC

SEC-registered broker-dealer and FINRA/SIPC member that operates the tZERO Securities ATS for secondary trading in digital/tokenized securities and other approved asset classes.

DOMEBRIDGE AZ

Franklin Templeton Trust

United States of America

British Virgin Islands

Liechtenstein

Switzerland

United Kingdom

Singapore

Cayman Islands

Bermuda

France

El Salvador

Luxembourg

European Union

Antigua and Barbuda

Avalanche C-Chain

xStocks issues tokens that track major financial instruments (S&P500, T-bills, TSLA, AAPL, etc.) on public blockchains. The tokens are fully backed by the underlying assets.

xStocks

Franklin Templeton is a global investment management organization (NYSE:BEN). It has developed Benji, a retail mobile app and institutional web app that allows investors to browse tokenized securities and cryptocurrencies.

Tokeny enables compliant issuance, transfer, and management of securities using blockchain.

London-based OpenTrade runs stablecoin yield and tokenized T-bill/credit products on a fork of Circle’s Perimeter Protocol, marrying USDC rails with a bankruptcy-remote Cayman SPC and regulated brokers/custodians.

Midas is a tokenisation platform building institutional-grade financial products for the open web. Its ERC-20 tokens are structured to track dedicated strategies with verifiable on-chain performance, combining TradFi-grade standards with DeFi composability.

Midas is backed by leading investors like Framework Ventures, BlockTower Capital, and GSR, and partners with regulated custodians to ensure strong compliance and risk controls.

Agora Ledger builds infrastructure for digital dollars—letting businesses mint and manage dollar tokens (e.g., AUSD) and connect them to both DeFi and traditional payment rails.

KAIO is an institutional-grade Web3 protocol, created by WebN Group and Nomura’s Laser Digital, that enables compliant tokenization and lifecycle management of alternative investment funds. It connects asset managers with distributors while providing access to tokenized hedge funds, money market funds, and private credit strategies from managers like Brevan Howard, BlackRock, and Hamilton Lane. Through its KAIO Gateway, the platform extends these assets across multiple blockchains, offering services such as collateralized lending, automated rebalancing, and programmable compliance.

WisdomTree is a global financial innovator offering a diversified suite of exchange-traded products (ETPs), model portfolios, and blockchain-enabled solutions. As a leading independent ETF provider, WisdomTree is also at the forefront of digital finance, having launched a range of blockchain-based funds spanning money markets, equities, fixed income, and asset allocation, along with tokenized assets like gold. These offerings are accessible via WisdomTree Prime® for U.S. retail investors and WisdomTree Connect™ for institutions. Through subsidiaries focused on digital asset management and money services, WisdomTree aims to enhance access, transparency, and user experience across modern financial infrastructure.

Libeara is a Singapore-based fintech startup backed by SC Ventures, powering the tokenisation of real-world financial assets. With a mission to make quality investments inclusive and accessible.

Libeara

Fireblocks is a digital asset infrastructure company, trusted by 2,200+ institutions to scale stablecoins, custody, and digital asset operations.

Cross-Chain Interoperability Protocol (CCIP) is Chainlink’s standard for secure cross-chain messaging and token transfers, letting apps move tokens and data across public and private blockchains via decentralized oracle networks.

Asseto is building the yield infrastructure for the stablecoin economy. As RWAs become the next frontier of onchain finance, we go beyond static tokenization by transforming live, yield-generating strategies into programmable, composable assets. We partner with leading asset managers to bring real-world, compliant products on-chain — balancing yield, liquidity, and regulatory alignment. Current offerings include delta-neutral arbitrage and tokenized cash strategies, with more coming soon: private equity, private credit, and multi-asset structured products. 

Backed by strategic investors HashKey Group and Pharos, our team combines experience from Morgan Stanley, Standard Chartered, E Fund, and more — bridging traditional finance with Web3 execution. 

Asseto is not just tokenizing RWA — we’re building the real yield stack: compliant, composable, and connected to the real economy.

Backed Finance is a blockchain tokenization company that converts traditional financial assets.

Galaxy Digital is a digital-asset financial services firm. It operates across trading, asset management, investment banking/advisory, and principal investing in crypto and blockchain, and also publishes market research and builds infrastructure products for institutions.

Bridgetower is a global AI and blockchain infrastructure company building the institutional rails for tokenization, digital assets, and intelligent financial systems. We integrate sovereign AI, Web3 platforms, and compliant market architecture so institutions, enterprises, and public-sector partners can move critical data, capital flows, and high-stakes workflows onchain with the reliability and control they expect from traditional markets.

We are industry, model, and use-case agnostic, working across real-world assets, natural resources, infrastructure, project finance, private credit, and other complex structures. On the AI side, we design, train, and deploy enterprise models and LLM solutions and pair them with blockchain-based authenticity and data governance, so organizations get one unified stack where AI systems are powerful enough for large-scale production use and traceable, auditable, and controllable enough for regulated and mission-critical environments.

Avalanche

American Bitcoin Corp. Class A Common Stock

Apollo Diversified Credit Securitize Fund

Automatic Data Processing, Inc. Common Stock

American Electric Power Company, Inc. Common Stock

Tidal Trust II Defiance AI & Power Infrastructure ETF

VistaShares Artificial Intelligence Supercycle ETF

Advanced Micro Devices, Inc. Common Stock

Applovin Corporation Class A Common Stock

Ares Management Corporation Class A Common Stock

Arm Holdings plc American Depositary Shares

ASML Holding N.V. New York Registry Shares

AST SpaceMobile, Inc. Class A Common Stock

Alibaba Group Holding Limited American Depositary Shares, each represents eight Ordinary Shares

Assigned by the issuer and not guaranteed to be unique.

The base protocol where the token is deployed

Annualized percentage yield over the last 7 days, net of fees.

Annualized percentage yield over the last 30 days, net of fees.

Total return over the trailing 7 calendar days, compounded from daily asset performance rates

Total return over the trailing calendar month, compounded from daily asset performance rates

Total return over the trailing 3 calendar months, compounded from daily asset performance rates

Total return over the trailing calendar year, compounded from daily asset performance rates

Total return from January 1 through the latest observation date, compounded from daily asset performance rates

Total return across all available daily observations, compounded from daily asset performance rates

Total outstanding principal amount in tokens

Capital amount that has yet to be invested.

total amount issued in the deal, pool or tranche.

Also known as 'Market Capitalization'. The total market value of an asset in U.S. Dollars, calculated by multiplying the Total Supply by Price.

Sum of token value, in U.S. Dollars, burned on the given day. Calculated by multiplying Daily Burns (Token) by the NAV.

Sum of token value, in U.S. Dollars, transferred on the given day. Calculated by multiplying Daily Transfer Volume (Token) by the NAV.

Total asset value in U.S. Dollars. Calculated by multiplying the Total Supply by Net Asset Value.

Per-unit value of the asset, in U.S. Dollars, calculated based on the underlying holdings.

Capacity amount available for investment.

Sum of token value, in U.S. Dollars, minted on the given day. Calculated by multiplying Daily Mints (Token) by the NAV.

Total principal repaid token amount for loan asset

Total interest paid token amount by borrower/loan to lender

Total written off principal token amount for a defaulted loan asset

Total recovered token amount for a liquidated loan asset

total principal paid back in the deal, pool or tranche in tokens

#	Platform	RWA Count	Total Value	30D%	Market Share
1	Securitize	8	$879.0M	Login to Unlock	Login to Unlock
2	Circle	2	$449.7M	Login to Unlock	Login to Unlock
3	Bridgetower	1	$334.4M	Login to Unlock	Login to Unlock
4	Tether Holdings	1	$304.3M	Login to Unlock	Login to Unlock
5	Centrifuge	5	$263.0M	Login to Unlock	Login to Unlock
6	OpenTrade (Perimeter Protocol)	24	$170.2M	Login to Unlock	Login to Unlock
7	Avant Protocol	1	$124.7M	Login to Unlock	Login to Unlock
8	Franklin Templeton Benji Investments	1	$34.4M	Login to Unlock	Login to Unlock
9	Galaxy Digital	1	$17.9M	Login to Unlock	Login to Unlock
10	Asseto	1	$15.6M	Login to Unlock	Login to Unlock

Avalanche C-Chain

Asset Type

Metric