Markets
Tokenized Treasuries & RWA Rankings
On-chain tokenized real-world assets — U.S. treasuries, money-market funds, private credit and commodities — ranked by total value locked.
Source DefiLlama
Updated every 30 min
100 RWA protocols
Total RWA on-chain
$4.01B
value locked across protocols
Protocols tracked
100
RWA category
Largest protocol
Ethena USDtb
$477.5M TVL
Leader dominance
11.9%
of tracked RWA TVL
Tokenized real-world assets
Top 30 protocols by on-chain TVL| # | Protocol | TVL | 1d | 7d | Primary chain | Chains |
|---|---|---|---|---|---|---|
| 1 | Ethena USDtb | $477.5M | +0.38% | +0.85% | Ethereum | 1 |
| 2 | Re | $451.3M | +0.26% | +7.94% | Multi-Chain | 4 |
| 3 | Huma | $378.6M | −0.08% | −6.20% | Multi-Chain | 4 |
| 4 | Anemoy Capital | $332.7M | −0.15% | −0.27% | Multi-Chain | 3 |
| 5 | OnRe | $294.3M | +0.08% | +0.52% | Solana | 1 |
| 6 | USD AI | $263.2M | +0.02% | −24.54% | Arbitrum | 1 |
| 7 | OpenTrade | $246.7M | −0.41% | −2.06% | Multi-Chain | 3 |
| 8 | Plume Vaults | $227.7M | +1.18% | −3.83% | Multi-Chain | 5 |
| 9 | RealT Tokens | $155.0M | −0.05% | −0.04% | xDai | 1 |
| 10 | R25 | $153.0M | −10.27% | −2.13% | Multi-Chain | 2 |
| 11 | Theo Network thUSD | $132.2M | +0.09% | −0.00% | Ethereum | 1 |
| 12 | Valos | $105.9M | +0.00% | +0.10% | Monad | 1 |
| 13 | Frax USD | $103.1M | −0.08% | −2.14% | Ethereum | 1 |
| 14 | Lofty | $101.1M | −0.02% | −0.02% | Algorand | 1 |
| 15 | Usual USD0 | $83.1M | +0.00% | −0.20% | Ethereum | 1 |
| 16 | Sky RWA | $71.1M | +2.11% | −1.65% | Ethereum | 1 |
| 17 | stUSDT | $56.3M | −0.10% | −0.09% | Multi-Chain | 2 |
| 18 | Brickken | $42.4M | −0.03% | +0.06% | Multi-Chain | 5 |
| 19 | Tangible RWA | $42.0M | +0.40% | +0.96% | Multi-Chain | 6 |
| 20 | KAIO | $39.6M | −0.04% | −0.03% | Multi-Chain | 14 |
| 21 | Clearpool TPOOL | $23.5M | −0.01% | +11.96% | Multi-Chain | 2 |
| 22 | GoldFinger | $23.5M | −0.02% | −0.03% | Binance | 1 |
| 23 | T RIZE | $23.0M | +0.00% | +0.00% | Base | 1 |
| 24 | Sygnum FIUSD Liquidity Fund | $18.3M | +0.01% | +0.07% | zkSync Era | 1 |
| 25 | Paimon | $14.1M | −0.02% | +0.07% | Binance | 1 |
| 26 | Estate Protocol | $13.9M | −0.05% | −0.03% | Arbitrum | 1 |
| 27 | Theo Network thBill | $11.2M | −0.02% | +0.08% | Multi-Chain | 6 |
| 28 | Republic Note | $11.1M | — | +33.35% | Avalanche | 1 |
| 29 | Solv RWA | $9.5M | +2.13% | +0.28% | Multi-Chain | 2 |
| 30 | Binaryx Platform | $9.0M | −0.02% | −0.01% | Polygon | 1 |