Tokenized real-world assets (RWAS) have evolved from a niche concept to mainstream use cases in institutional finance, with private credit bringing allegations as investors pursue programmable yields.
That’s one of Redstone’s main gains H1 2025 RWA Market Overviewco-authored by Defi protocol Gauntlet and Data Platform rwa.xyz.
In addition to Stablecoins, the tokenized RWA market has grown 380% since 2022, with a total value of $24 billion.
Although most of the discourse is focused on tokenized fiscal bills, Black Stone and Franklin Templeton He reported that private credit entering Fray now accounts for more than half of the RWA market, reaching $14 billion.
Report says Apollo’s grant fund.
FS Investment as alternative asset manager observeinvestors have long turned to private credit due to the “return premium” of their public credit markets. According to Redstone, tokenization is now increasing settlement speed and liquidity, reducing barriers to entry and achieve score participation, a capability that private credit markets have historically lacked.
Related: MIDAS launches token T-Bill on Algorand
Ethereum remains the main token RWA platform
although Ethereum’s dominance has been eroded In recent years, it has been a faster and more scalable blockchain, and it remains the primary network for tokenized RWA, Redstone said. By mid-2025, the Ethereum network hosted approximately $7.5 billion in token value in 335 products, accounting for 59% of the total market.
“Although Etherealize’s launch in January 2025 marks a strategic hub, despite the historical restrictions on its institutional advocacy,” the report said. Marketing work at the Ethereum Foundation Bring more institutional participation.
However, the report calls Solana a “high performance challenger” as it continues to play a growing role in the tokenized fiscal market.
As of June, Solana has escrowed about $351 million in token assets.
Aptos also saw an increase in RWA deployments, with Aptos having $349 million in token assets as of June. It is worth noting that Aptos is the first non-Ethereum Virtual Machine network of the BlackRock Buidl Fund.
Elsewhere, Avalanche now has $188 million in token assets, including KKR’s tagged fund, and XRP Ledger The report said it has become a “regulated newcomer” with a $157 million tokenized RWA.
Related: Solana Foundation, Bitget Wallet joins Ondo Finance’s “market alliance”
