RWA Tokenization Just Hit a New ATH: $32B On-Chain (Excluding Stablecoins)

Real-world asset tokenization continues to accelerate!

Total on-chain RWA value just crossed $32B, excluding stablecoins. A new all-time high.

~$5B (late 2023) → $32B+ today
US Treasuries lead, but commodities and credit are catching up fast
The asset mix gets broader every quarter

TradFi is moving on-chain, category by category.

Up only, regardless of market conditions.

Source: https://x.com/LeonWaidmann/status/2074702523449987427