Tokenized US Treasury Bonds Hit $1 Billion Milestone on Public Blockchains – This week, data analyst Tom Wan from 21.co revealed that tokenized U.S. Treasury bonds on public blockchains have crossed the $1 billion milestone. Wan noted a remarkable 400% surge in Blackrock’s BUIDL, jumping from $40 million to $240 million in just one week.
Tokenizing real-world assets (RWA) has garnered significant interest since late 2023 and into 2024. Tom Wan, an analyst at 21.co, a part of 21shares, shared on March 27th that tokenized U.S. Treasury bonds on public blockchains have now surpassed $1 billion. According to data from Dune Analytics by 21.co, there is currently $1.103 billion worth of tokenized government bonds available onchain.
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A recent Coingecko study on RWA indicates a staggering 641% growth in tokenized Treasury products in 2023. Currently, there are 17 distinct tokenized government security options available, with Franklin Templeton’s BENJI leading in terms of assets under management (AUM). BENJI presently commands an AUM of around $360.19 million, distributed across the Stellar and Polygon blockchain networks.
Following closely, Blackrock’s BUIDL holds the second position with $274.80 million in AUM, residing on the Ethereum blockchain network. Wan emphasized in his X post that BUIDL’s worth surged by 400% in just one week. In the realm of tokenized government assets, notable entities include Mountain Protocol and Ondo Finance, while Matrixdock completes the top six with an AUM of approximately $46.77 million.
“[Ondo Finance] is now the largest holder of BUIDL, holding 38% of the total supply,” Wan remarked. “Now Ondo’s OUSG is fully backed by BUIDL.” The merging of traditional finance and blockchain technology, as demonstrated by the increasing volume of tokenized Treasury bills, appears to be ushering in a new era in RWA management.
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