The RWA track is rising rapidly: new public chains, competitions, and fund sizes are breaking through

Recently, the real-world asset (RWA) sector has experienced explosive growth. As of March 25, the total value of on-chain RWAs has reached $19.53 billion, an increase of 108% compared to the same period last year. Ethereum leads with a total value of $5.01 billion, followed closely by ZKsync Era and Algorand.

The Converge public chain is scheduled to launch in the second quarter.

Converge is a settlement layer designed specifically for the integration of traditional finance and DeFi, centered around USDe and USDtb, with security provided by ENA. This public chain is primarily used for permissionless DeFi speculation settlements, as well as the storage and settlement of stablecoins and tokenized assets.

Currently, five protocols have committed to building institutional-grade DeFi products on Converge, including Aave Labs' Horizon, Pendle Institutional, Morpho Labs, Maple Finance, and Syrup, as well as EtherealDEX.

Sky Tokenization Grand Prix Announces Winners

The Spark Tokenization Grand Prix initiated by Sky has announced three winning projects: BUIDL from BlackRock-Securitize, USTB from Superstate, and JTRSY from Centrifuge. These projects will receive funding support of $500 million, $300 million, and $200 million respectively, aiming to diversify Spark's investment portfolio and accelerate the tokenization application of RWA.

DigiFT Launches On-Chain Tokenized Index Fund

The Singapore licensed crypto exchange DigiFT has announced the launch of two on-chain tokenized index funds: the AI Stock Index Fund and the Web3 Index Fund. These funds are managed by Hash Global and support USDT and USDC subscriptions and redemptions, featuring real-time on-chain transparency and a round-the-clock settlement cycle.

Figure Promoting On-Chain Mortgage-Backed Securities Market

Figure Technology Solutions is innovating the mortgage-backed securities capital market through blockchain technology. Several major financial institutions are adopting Figure's DART electronic lien registration system to advance its application in the Figure Connect loan market.

Republic collaborates with Hamilton Lane to launch a tokenized fund

Republic has partnered with Hamilton Lane to launch a tokenized private equity infrastructure fund aimed at retail investors, with a minimum investment threshold of only $500. This is the first "perpetual" tokenized infrastructure fund in the United States open to non-accredited investors.

Dubai Launches Real Estate Tokenization Pilot

The Dubai Land Department has launched the pilot phase of the "Real Estate Tokenization Project," becoming the first registration authority in the Middle East to implement blockchain-based real estate property tokenization. The project is expected to exceed a market value of $16 billion by 2033, accounting for 7% of the total real estate transaction volume in Dubai.

Fidelity Launches New Category of Tokenized Money Market Funds

Fidelity has applied to register the "OnChain" stock class for its tokenized dollar money market fund, Fidelity Treasury Digital Fund. The fund currently uses the Ethereum network and may expand to other blockchains in the future.

BlackRock BUIDL Fund Size Exceeds 1 Billion USD

BlackRock's BUIDL fund has surpassed $1 billion in assets under management, becoming the first institutional-grade on-chain fund to reach this milestone. BUIDL has expanded to multiple blockchain networks and recently announced a partnership with Securitize to extend its operations to Solana.

With the continuous influx of institutional funds and the improvement of infrastructure, RWA is becoming one of the hottest areas in the crypto industry. In the future, RWA is expected to further expand its influence in the crypto market and even the global financial system, and its development dynamics are worth continuous attention.