The tokenized real-world assets (RWAs) market has surged to a value of $24 billion, driven primarily by private credit and US Treasury debt. According to a report by RedStone, co-authored with DeFi protocol Gauntlet, the market has grown by approximately 380% since 2022. Private credit now represents over half of this market, valued at $14 billion, offering yields between 8% and 12%. Tokenization has enhanced liquidity and reduced barriers to entry, addressing traditional limitations in private credit markets. Ethereum remains the leading platform for tokenized RWAs, hosting $7.5 billion worth of assets, which constitutes 59% of the total market. Recent developments, such as the January 2025 launch of Etherealize, have aimed to improve institutional participation. Meanwhile, Solana is emerging as a significant competitor with about $351 million in tokenized assets, alongside Aptos with $349 million, and Avalanche with $188 million in tokenized assets. This growth reflects a shift toward greater institutional engagement in blockchain-based finance.

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