Posted 10/30/2023, 8:11:00 PM
Tokenized Treasuries Market Surges as Crypto Platforms Compete to Put Real-World Assets on Blockchains
- Tokenized U.S. Treasuries market grew nearly 600% to $698M in 2023 as crypto RWA competition intensified
- Growth driven by new entrants and existing platforms like Ondo Finance, Maple, Backed
- Ethereum overtook Stellar in Treasury token value, Polygon and Solana also gained traction
- Permissionless stablecoins like Ondo's USDY and Mountain's USDM emerged as new tokenization method
- Tokenized Treasuries spearheaded effort to put real-world assets on blockchains
- 21.co forecasted $10 trillion tokenized asset market by end of decade