Data desk · Live
Real-World Assets
Tokenised real-world asset protocols ranked by total value locked. Not financial advice.
| # | Protocol | Chain | 24h | TVL |
|---|---|---|---|---|
| 1 | BlackRock BUIDL | Multi-Chain | 0.00% | $3.39B |
| 2 | Tether Gold | Multi-Chain | -0.06% | $3.27B |
| 3 | Circle USYC | Multi-Chain | +0.00% | $2.92B |
| 4 | Ondo Yield Assets | Multi-Chain | -0.36% | $2.51B |
| 5 | Spiko | Multi-Chain | 0.00% | $2.51B |
| 6 | Paxos Gold | Ethereum | -0.08% | $1.98B |
| 7 | Centrifuge Protocol | Multi-Chain | -0.01% | $1.64B |
| 8 | Ondo Global Markets | Multi-Chain | -0.42% | $968.41M |
| 9 | Blockchain Capital | zkSync Era | +0.00% | $956.83M |
| 10 | Anemoy Capital | Multi-Chain | -0.01% | $873.20M |
| 11 | WisdomTree | Multi-Chain | +0.00% | $779.45M |
| 12 | Invesco USTB | Multi-Chain | +0.03% | $639.38M |
| 13 | Hastra | Multi-Chain | +0.03% | $603.90M |
| 14 | xStocks | Multi-Chain | -1.99% | $418.84M |
| 15 | Re | Multi-Chain | +1.06% | $309.76M |
| 16 | Ethena USDtb | Ethereum | +0.01% | $287.74M |
| 17 | OnRe | Solana | +0.13% | $273.61M |
| 18 | OpenTrade | Multi-Chain | +0.01% | $263.24M |
| 19 | OpenEden TBILL | Multi-Chain | +0.00% | $253.29M |
| 20 | DigiFT | Multi-Chain | +0.02% | $167.50M |
| 21 | RealT Tokens | xDai | 0.00% | $155.10M |
| 22 | Midas RWA | Multi-Chain | +0.74% | $152.75M |
| 23 | R25 | Pharos | +0.02% | $131.57M |
| 24 | RAAC | Ethereum | 0.00% | $121.55M |
| 25 | Mantle Index Four Fund | Mantle | 0.00% | $119.98M |
Source: DefiLlama. Figures are informational and not financial advice.
What’s driving real-world asset growth
Real-world asset (RWA) protocols tokenize traditional instruments — mostly US Treasuries and private credit — so they can be held and used as collateral on-chain. Rising TVL here usually reflects institutions testing on-chain settlement, and crypto-native treasuries parking idle stablecoins in tokenized T-bills instead of letting them sit uninvested.
What to watch
- Who the actual issuer or custodian of the underlying asset is.
- Whether redemptions are same-day or gated.
- Whether the yield genuinely comes from the underlying asset, or is partly subsidized by token incentives.
Articles & guides
Related reading
Global Regulations & ComplianceHow Central Banks Pilot CBDCs
Olivier Acuna · 1 min read
Crypto Security TipsSetting Up a Hardware Wallet Safely
Bernard Condon · 3 min read
Blockchain BasicsUnderstanding Gas Fees
Stanislas Pogorzelski · 1 min read
Smart Contracts & DeFiWhat Is Staking?Olivier Acuna · 1 min read
Browse the newsroom →
Olivier Acuna · 1 min read
Crypto Security TipsSetting Up a Hardware Wallet Safely
Bernard Condon · 3 min read
Blockchain BasicsUnderstanding Gas Fees
Stanislas Pogorzelski · 1 min read
Smart Contracts & DeFiWhat Is Staking?
Olivier Acuna · 1 min read