Data desk · Live
Real-World Assets
Tokenised real-world asset protocols ranked by total value locked. Not financial advice.
| # | Protocol | Chain | 24h | TVL |
|---|---|---|---|---|
| 1 | Ethena USDtb | Ethereum | -0.02% | $477.02M |
| 2 | Re | Multi-Chain | +1.40% | $457.62M |
| 3 | Huma | Multi-Chain | +0.60% | $380.98M |
| 4 | Anemoy Capital | Multi-Chain | +0.03% | $330.25M |
| 5 | OnRe | Solana | +0.27% | $295.06M |
| 6 | USD AI | Arbitrum | -0.61% | $261.66M |
| 7 | OpenTrade | Multi-Chain | +0.03% | $246.78M |
| 8 | Plume Vaults | Multi-Chain | -0.55% | $226.74M |
| 9 | R25 | Multi-Chain | +17.11% | $186.95M |
| 10 | RealT Tokens | xDai | +0.04% | $155.08M |
| 11 | Theo Network thUSD | Ethereum | -0.02% | $132.18M |
| 12 | Valos | Monad | +0.06% | $105.93M |
| 13 |  Frax USD | Ethereum | -0.56% | $102.54M |
| 14 | Lofty | Algorand | +0.01% | $101.16M |
| 15 | Sky RWA | Ethereum | -0.07% | $71.08M |
| 16 | stUSDT | Multi-Chain | +0.03% | $56.31M |
| 17 | Usual USD0 | Ethereum | -48.74% | $42.60M |
| 18 | Brickken | Multi-Chain | +0.11% | $42.44M |
| 19 | Tangible RWA | Multi-Chain | +0.18% | $42.01M |
| 20 | KAIO | Multi-Chain | +0.02% | $39.64M |
| 21 | Clearpool TPOOL | Multi-Chain | +0.02% | $23.54M |
| 22 | GoldFinger | Binance | 0.00% | $23.53M |
| 23 | T RIZE | Base | +0.00% | $23.00M |
| 24 | Sygnum FIUSD Liquidity Fund | zkSync Era | +0.01% | $18.32M |
| 25 | Paimon | Binance | +0.00% | $14.08M |
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.
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