US Treasuries, real estate, private credit — $25B of real-world assets are now tokenized on blockchain. BlackRock alone holds $2.8B. Projected to hit $16 trillion by 2030.
Take a real asset — a Treasury bond, an apartment, gold — lock it with a custodian, and issue blockchain tokens representing ownership. Now it trades 24/7, splits into tiny fractions, and settles in seconds. Illiquid assets become liquid.
The killer app: tokenized US Treasuries. ~$7B on-chain. They yield 5%, settle instantly, trade 24/7, and work as DeFi collateral. BlackRock BUIDL ($2.8B), Ondo, and Franklin Templeton lead. The safest asset, made better by blockchain.
Ondo Finance (ONDO): tokenized Treasuries. Centrifuge (CFG): private credit. Maple (SYRUP): institutional lending. Chainlink (LINK): the infrastructure verifying it all is real via Proof of Reserve. These are the picks-and-shovels plays.
A tokenized bond is only as safe as the bond. Risks: underlying asset default, custody failure, smart contract bugs, regulation. Tokenized Treasuries from BlackRock/Ondo are low risk; tokenized private credit carries default risk. Verify Proof of Reserve.
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