ON–347: Real World Assets 🌍
Coverage on Sector Update, Plume, Franklin Templeton, Centrifuge, WisdomTree, and Tether Gold
📝 Editor’s Note:
Real world assets, broadly defined as tokenized assets which exist in the physical world or in traditional finance, continue to be one of the more promising sectors in crypto. The value of RWAs has gone from an experiment with a few million in tokenized value to a space with the makings of a juggernaut with nearly $24B in onchain assets.
To explore this growth, we'll hear from the RWA.xyz team, a leading provider of analytics and research for the space. We'll also hear from Reuben who covered the freshly launched Plume Network. Biff, who covered Franklin Templeton, Graham from Centrifuge, WisdomTree, new to OurNetwork, and Henry who covered Tether's tokenized gold product, contributed as well.
– ON Editorial Team
Real World Assets 🌍
Plume | Franklin Templeton | Centrifuge | WisdomTree |Tether Gold
👥 rwa.xyz | Dashboard
📈 Tokenized Assets — Excluding Stablecoins — See Record Growth in Q2 2025, Led by Treasuries, Private Credit, and Gold
In Q2 2025, the market cap of tokenized assets surpassed $23B, having grown by over $3.5B. The rise was led by tokenized Treasuries, which added $2.1B. BlackRock’s BUIDL, Janus Henderson Anemoy’s JTRSY, and Superstate’s USTB, contributed most to the government bond-backed sector. Private credit followed with $1.1B in the ongoing quarter, led by Figure Technologies and Maple Finance. Commodities ranked third, adding $172M from Tether and Paxos’ tokenized gold products.
Tokenized Treasuries surged $2.1B in Q2 2025, largely driven by Spark’s $1B Tokenization Grand Prix, which allocated Sky's capital, formerly MakerDAO, to three winners — BlackRock's BUIDL received $500M, Superstate's USTB received $300M, and Janus Henderson Anemoy's JTRSY received $200M.
