RWA (real-world assets)
RWAreal-world asset
Tokenised off-chain assets — Treasuries, money-market funds, credit pools, real estate — used as on-chain collateral or yield products.
RWA grew dramatically post-2023 Treasury-yield shift. Vehicles include BlackRock BUIDL, Franklin Templeton FOBXX, Ondo OUSG / USDY, Centrifuge pools, Maple credit. RWA-backed stablecoin reserves (DAI, USDS, USDM) bring T-bill yield on-chain but also reintroduce off-chain credit / custody / regulatory risk.
Related terms
- T-bill (US Treasury bill)A short-duration (≤ 1 year) US government debt instrument — the primary reserve asset for major fiat-backed stables.
- OndoAn RWA tokenisation platform best known for [[usdy]] and OUSG — tokenised access to US Treasury yield.
- CentrifugeA real-world-asset (RWA) tokenisation platform best known for its [[mkr]]-integrated T-bill and credit pools.
- USDSSky's post-Endgame stablecoin, 1:1 swappable with [[dai]], with sUSDS as the yield-bearing wrapper.