Tokenized U.S. Treasury Market Grows Nearly 600% to $698M as Crypto’s RWA Race Intensifies | Currency News | Financial and Business News

Tokenized versions of U.S. Treasuries grew nearly seven-fold so far in 2023 as competition between investment offerings and blockchain venues intensified.

According to real-world asset (RWA) monitoring platform RWA.xyz, the tokenized Treasury market surged to $698 million as of Monday from around $100 million at the start of the year. The expansion was spurred by new entrants into the space as well as from existing platform growth, Charlie You, co-founder of RWA.xyz, noted in the Our Network newsletter.