Market capitalization of tokenized US bonds, etc. exceeds $ 600 million ──TradFi’s yield exceeds DeFi | CoinDesk JAPAN | CoinDesk Japan

According to RWA.xyz, a real-world asset (RWA) data firm, investment products that tokenize US Treasuries, bonds, and money market funds (MMFs) using blockchain have a market capitalization of $614 million (approximately 860 million USD). billion yen).

Demand for tokenized Treasuries is steadily rising as yields on Treasuries, widely considered risk-free, surpass those of DeFi (decentralized finance).

DeFi yields plummeted as demand for borrowing and leverage contracted amid a slump in the cryptocurrency market. Meanwhile, traditional finance (TradFi) bond yields surged as the Federal Reserve hiked interest rates to their highest level since 2007 to combat high inflation.

This year, new entrants such as OpenEden, Ondo Finance and Maple Finance launched US Treasury tokenized investment products targeting veteran investors, digital asset firms and DAOs (decentralized autonomous organizations).

“The overall macroeconomic landscape has shifted, which will naturally attract investors shifting their exposure from crypto assets to US Treasuries,” RWA.xyz guest researcher Jack Chong said in a report. I wrote.

Tokenizing real-world assets (RWA) has become one of the hottest trends in crypto, with the market size set to reach $5 trillion in the next five years, asset manager Bernstein said in June. stated in the report.

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: RWA.xyz
｜Original: Tokenized US Treasurys Surpass $600M as Crypto Investors Capture TradFi Yield