The market value of on-chain RWA assets has exceeded $12 billion

According to a report released by Binance Research, the market value of on-chain real-world assets (RWAs, excluding stablecoins) has exceeded $12 billion, showing investors' continued interest in blockchaining traditional assets. Among them, the tokenized U.S. Treasury market has performed particularly well, with a market value of more than $2.2 billion. BlackRock's BUILD fund has a market value of $520 million, and Franklin Templeton's FBOXX fund has a market value of $434 million. The report pointed out that continued high interest rates in the United States have driven the rapid growth of the tokenized Treasury market, but as the Federal Reserve is expected to cut interest rates in the coming months, the attractiveness of these yield products may be affected. In addition, the on-chain private credit, tokenized commodities and real estate markets are also growing, with the on-chain private credit market valued at $9 billion.