Circle

Multipli

Cygnus Finance

Groma

Centrifuge

Franklin Templeton Benji Investments

Midas

Spiko

River

KAIO

T-RIZE Group

Tokeny by Apex

Chainlink CCIP

Streamex Ltd.

BCP Technologies

Anzen

LayerZero OFT

Frankencoin Protocol

AUDC Pty Ltd

Transfero

Gold Token SA

xStocks

Dinari

Brale

Enzyme Onyx

Frax Finance

RealtyX

Stargate

f(x) Protocol

st0x

Etherfuse

AllUnity

Forte Tech Solutions

Fireblocks

WisdomTree

Swarm

Agora Ledger

Anchorage Digital Bank

Auxite

Stablecoins

Real Estate

US Treasury Debt

Asset-Backed Credit

Corporate Credit

Active Strategies

Private Equity

non-US Government Debt

Commodities

Stocks

Cryptocurrencies

Diversified Credit

Groma Advisor, LLC

Anemoy

Franklin Templeton

Fasanara

Mubadala Capital

Concept Habitation Duo Inc.

Twenty First Capital

Coinbase Asset Management

Maple Protocol Pool Operations

Opal Capital

Resolv

WisdomTree Digital Management

VanEck Associates Corporation

Base is an Ethereum Layer 2 network built by Coinbase. It utilizes optimistic rollups to provide features like native support for Ethereum Virtual Machine (EVM) compatibility and a user-friendly developer experience. The Base network aims to drive mainstream adoption of Ethereum by offering improved scalability and reduced gas fees compared to the Ethereum mainnet.

Multipli is the world’s first yield and collateralization infrastructure designed to generate yield on real-world assets such as Gold, Stocks, and Stablecoins.

Macropod is an Australian digital asset infrastructure provider and the issuer of AUDM. AUDM is issued by Macropod Global under an Australian Financial Services Licence (AFSL 566313).

Macropod

Libre Cayman SPC

River is a chain-abstraction stablecoin protocol that lets users collateralize BTC, ETH, BNB and LSTs across chains to mint satUSD, an overcollateralized USD-pegged stablecoin.

f(x) Protocol is a decentralized on-chain protocol for crypto-backed stablecoins and leverage trading. Its flagship stablecoin, fxUSD, is designed to maintain a U.S. dollar peg while being collateralized by liquid DeFi assets such as Lido stETH and WBTC

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

Agant Finance Limited is the issuer of Agant GBP (GBPA), a pound sterling stablecoin designed for GBP-denominated payments, settlement, treasury operations and on-chain financial applications. Agant also provides institutional GBP on/off-ramp infrastructure and is registered with the UK FCA as a cryptoasset firm under the Money Laundering Regulations.

Agant Finance

Aureum Securitisation Fund

Swarm X

Backed Assets

WisdomTree Short-Term Treasury Digital Fund

Protocol Pool Operations is Maple’s affiliated operator that runs institutional lending pools and cash-management vehicles on the Maple protocol, handling underwriting, risk, and day-to-day administration. In practice, it serves as the pool delegate/manager for Maple’s flagship products.

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​​.

Mountain Protocol

Ethena

AUDC is the issuer of the AUDD – Australian Digital Dollar, a 1:1 AUD-backed stablecoin. AUDC's technology delivers fast, cost-effective payments for businesses, institutions, and various use cases.

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

Transfero enables global companies to access the numerous opportunities in the Latin American market seamlessly and without bureaucracy.  

We connect the banking, crypto, and financial systems, providing the necessary infrastructure for companies that want to offer financial services to their individual and institutional clients.

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.

Forte Securities Australia Pty Limited

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

Anzen is the issuer of USDz, an on-chain dollar backed by cash-flowing, overcollateralized real world assets (RWA). It is permissionless, composable, and can be staked to earn rewards.

Spiko is building a tokenization platform to issue, manage and distribute securities on distributed ledger technologies. The first securities tokenized through Spiko are the world’s first fully-licensed tokenized money market funds, accessible via any Web3 wallet compatible with the Ethereum virtual machine.

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.

T-RIZE provides institutional-grade tokenization infrastructure for real-world assets and onchain financial instruments. It orchestrates the structuring, tokenization, lifecycle administration, compliance controls, reporting, and asset-data verification of tokenized private-market instruments. T-RIZE is the infrastructure provider behind Kairos Digital Loan Notes, the first publicly rated digital private credit instrument on Canton Network, and integrates Chainlink to support verifiable asset and coverage data. The company is also a Premier Member of the Canton Foundation.

OpenEden Digital ("OED") is a Bermuda Monetary Authority ("BMA") licensed digital asset issuer. OED operates under a Digital Assets Business License issued by the BMA permitting it to issue, sell or redeem virtual coins, tokens or any other form of digital asset. OED is a wholly owned subsidiary of OpenEden Group ("OEG").

OpenEden Digital

Our mission is to bring access to sovereignn debt by leveraging blockchain technology to lower barriers to ownership and empower individuals worldwide.

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

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

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

AllUnity is a regulated e-money institute building Europe’s digital payments infrastructure for
instant cross-border payments, digital asset markets, and seamless liquidity flows. Established
by DWS, Flow Traders, and Galaxy, AllUnity delivers fully backed, MiCAR-compliant stablecoins
(EURAU and CHFAU) that provide regulatory certainty and robust reserve backing for secure,
frictionless capital movement across markets.

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

Trustless stablecoin and low-risk crypto investments backed by the True-Delta Neutral Architecture.

Resilience BVI Ltd.

Anchorage Digital Bank, N.A. is the first federally chartered U.S. crypto bank, approved by the Office of the Comptroller of the Currency in January 2021 as a national trust bank. It provides institutions with qualified-custody, staking, trading, governance, and settlement services under the Anchorage Digital umbrella.

RealtyX brings RWAs onchain – starting with real estate, offering yield-generating opportunities backed by tangible assets through the power of DeFi, giving global investors access to efficient, transparent, and stable investment solutions.

BlackOpal is an onchain asset management and payments platform. We specialize in short-term credit card receivables in emerging markets, delivering investment-grade yield, asset liquidity, and built-in investor protection.

BlackOpal

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

Groma Real Estate Trust

GTSA (Gold Token SA, CHE-287.630.262), is the tokenization arm of MKS PAMP (MKS PAMP SA, CHE-105.871.847), dedicated to transforming gold and precious metals into secure, blockchain-based digital assets.

Streamex Ltd. is a Cayman Islands exempted limited company incorporated on October 24, 2025 pursuant to the Companies Act (as amended) of the Cayman Islands (the “Companies Act”) for the sole purpose of pursuing the following objectives: (i) purchase, hold, and sell unleased gold and (ii) lease its gold holdings in accordance with its Gold Leasing Program.

DeFi protocol on Base that issues cgUSD—an interest-bearing stablecoin backed by short-term U.S. Treasuries—with a cross-chain Liquidity Verification System and an “Instagram app layer” for onboarding.

Auxite is a tokenized precious metals platform offering institutional-grade access to physically-backed gold, silver, platinum, and palladium. Key highlights:

100% Physically Backed: Every token represents actual metal in LBMA/LPPM-certified vaults
Multi-Vault Architecture: Distributed custody across 4 global locations
Real-time Transparency: Live reserve dashboard with bar-level tracking
Multi-Metal Offering: Only RWA platform offering all 4 precious metals
Institutional Features: Staking, leasing, and physical delivery options

We believe Auxite represents a significant addition to the tokenized commodities category on RWA.xyz.


Coinbase Bitcoin Yield Feeder Fund is an exempted company incorporated with limited liability and unlimited duration under the laws of the Cayman Islands under registered number WC-418178 on February 4th , 2025.

Coinbase Bitcoin Yield Feeder Fund

Issuer vehicle that works with the ST0x DEX to provide 1:1-backed, tokenized equities, while ST0x provides the on-chain trading environment; ST0x states it is not the issuer and that issuance is handled by “S1.

Franklin Templeton Trust

United States of America

Germany

British Virgin Islands

Liechtenstein

Cayman Islands

Bermuda

Australia

Hong Kong

United Kingdom

Switzerland

France

Luxembourg

The Bahamas

European Union

Antigua and Barbuda

Base

Maple Finance is an institutional crypto-capital network that provides the infrastructure for credit experts to efficiently manage and scale loan portfolios.

Maple

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.

Swarm is a Germany-based tokenization platform regulated by the Federal Financial Supervisory Authority (BaFin). 

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.

Groma is a vertically integrated real estate investment, development and management company combined with a tech startup building tools to provide better outcomes for our investors, tenants and the communities we serve.

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.

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.

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.

st0x is a web interface to the decentralised “ST0x order book” exchange, letting users trade tokenised equities on-chain;

American Bitcoin Corp. Class A Common Stock

Anemoy Tokenized Apollo Diversified Credit 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

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

Total interest earned in the deal, pool or tranche in tokens

Total funded asset token amount for loan asset

Total funds withdrawn token amount for loan asset

Market value of an asset on a per-unit basis, in U.S. Dollars. Calculated by aggregating the last traded prices from secondary markets.

Circulating asset value in U.S. Dollars. Calculated by multiplying the Circulating Token Supply by NAV.

Circulating market capitalization in U.S. Dollars. Calculated by multiplying the Circulating Token Supply by Price. A Price only exists if the token is actively traded on a secondary market.

USD value of onchain token transfers aggregated weekly

USD value of onchain token transfers aggregated monthly

USD value of onchain token transfers over the trailing 7 days

#	Platform	RWA Count	Total Value	30D%	Market Share
1	Circle	2	$4.2B	Login to Unlock	Login to Unlock
2	Multipli	1	$117.0M	Login to Unlock	Login to Unlock
3	Cygnus Finance	1	$71.4M	Login to Unlock	Login to Unlock
4	Groma	1	$68.6M	Login to Unlock	Login to Unlock
5	Centrifuge	7	$59.7M	Login to Unlock	Login to Unlock
6	Franklin Templeton Benji Investments	1	$59.4M	Login to Unlock	Login to Unlock
7	Midas	2	$40.5M	Login to Unlock	Login to Unlock
8	Spiko	9	$38.2M	Login to Unlock	Login to Unlock
9	River	1	$32.5M	Login to Unlock	Login to Unlock
10	KAIO	2	$25.9M	Login to Unlock	Login to Unlock

BaseBETA

Asset Type