RWA Protocol Is Approaching $8 Billion in Total Locked Value: Messari

Real-world asset tokenization protocols have seen explosive growth over the past year, with total value locked (TVL) across the sector hitting record highs.

In a May 1 post on X, Messari, a blockchain analysis and research company, wrote TVL for real-world assets (RWA) protocols has surged to nearly $8 billion as of April 26.

The analytics firm said the RWA protocol has witnessed a “remarkable resurgence” over the past year, adding that the sector’s growth has been driven by “the market preference for debt-based, high-yield investments.”

The $8 billion TVL figure excludes fiat-backed stablecoins such as Tether (USDT) and USD Coin (USDC) and includes carry trade protocols, acquisitions, yielding stablecoins, commodities, securities and real estate tokenization. Protocols included.

Since February, the TVL of the RWA protocol has surged nearly 60%.

DeFiLlama, a decentralized financial analytics platform, contributed a slightly lower figure of $6 billion in total TVL for the RWA protocol. Additionally, protocol TVL has also shown monumental growth of approximately 700% since early 2023.

Notably, total fixed value is not the only metric that has experienced impressive growth this year.

The number of active users of the RWA protocol has also surged since February. This reflects the segment’s growing popularity among small retail users, according to Dune Analytics data.

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Protocols such as digital carbon market platforms Toucan and KlimaDAO and real estate tokenization protocol Propy have accounted for the lion’s share of this growth in terms of active users.

Tokenized Treasury bonds have also seen significant growth as yields remain high in the high inflation and interest rate environment in the United States.

According to RWA.xyz, there are currently records of $1.29 billion locked in tokenized U.S. Treasuries and bonds. This figure has surged by as much as 80% since the beginning of 2024, primarily driven by protocols such as Securitize and Ondo.

The recent performance of BlackRock’s Ethereum-based Institutional Digital Liquidity Fund (BUIDL) and Franklin OnChain US Government Money Fund (FOBXX), which have become the world’s largest tokenized treasury fund, have contributed significantly to the growth of this corner of RWA. market.

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