Securitize Tops the List, Tradable, Ondo, Paxos, & Others Dominant Players

According to the latest data from CryptoRank, RWA protocols have recorded another significant milestone, with an aggregate TVL now stands at $22 billion across decentralized platforms, an increase of $11 billion from last month’s $11 billion TVL. This rise in TVL indicates the rising acceptance of tokenized traditional financial products within the Web3 world. The TVL is spread across 85 decentralized platforms, with the top major ones highlighted below.

Top 10 RWA protocols by TVL

Securitize

According to the data, Securitize is the largest tokenization platform currently holding a $3.58 billion TVL, an increase of 32.8% over the past 30 days. While total TVL in the RWA market has reached $22 billion, Securitize controls a 31% market share, fueled by Blackrock’s BULD, which was boosted by supply by 46% over the past month. Securitize allows companies to tokenize traditional assets such as real estate, private equity, and fixed income in blockchain, making their ownership more affordable and accessible to global investors.

Tradable

Tradable, a major tech firm specializing in making institutional investment products accessible to a variety of investors, is currently the second biggest RWA platform. This decentralized platform recorded a 9.25% total value increase in the past month, placing its TVL currently at $2.05 billion. Tradable’s vision is to bring Web3 technology to traditional financial firms and tokenize institutional investment opportunities, allowing access to profit-generating assets to a bigger variety of investors.

Ondo

Ondo emerged as the third-largest RWA protocol, currently owning a $1.09 billion TVL, an increase of 10.4% over the past month. Ondo is a DeFi platform that specializes in tokenizing RWAs like money market funds, bonds, and US treasuries, making institutional investment products more accessible to investors worldwide.

Paxos

Fourth on the list, Paxos which currently holds a $776 million TVL. Paxos is a tokenization platform known for tokenizing various products, including its flagship tokenized Gold – PAXG (Paxos Gold). The implication here is that instead of purchasing physical Gold, people can simply buy and trade tokenized Gold on the blockchain.

Superstate

Superstate is currently the fifth biggest RWA protocol currently owning a $746 million TV, an increase of 72.8% from the past month. It specializes in bringing traditional assets on-chain, mainly focusing on tokenizing US government securities. By transforming these traditional assets into virtual assets, the firm enables higher accessibility of these assets, allowing investors to interact with these products through blockchain.

The rising market for tokenized RWAs

TVL is an essential indicator utilized to measure user demand in DeFi by gauging the value of tokens deposited in DeFi networks. According to the data, other major RWA protocols, which also gained recognition for their improved TVL, include Franklin Templeton, Tether Holdings, Circle, Spiko, and PACT.

Franklin Templeton recorded an increase of 4.45%, making it TVL currently hovers at $740 million. Tether Holdings settled on the seventh place with a $635 million TVL. Eighth on the list is Circle with a $468 million TVL. Lastly, Spiko and PACT registered an increase in their TVLs, reaching $244 million and $223 million, respectively.

These 10 protocols provide investors with the privilege to access and invest in conventional assets through tokenization, offering a new approach to investing. As per the data, the RWA tokenization trend continues gaining massive popularity, with investors increasingly pouring funds into tokenized investment products. This trend is fuelled by the demand for more advanced and stable investment alternatives within the turbulent cryptocurrency market.