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The market capitalization of U.S. tokenized government bonds increased from $114 million to $845 million in 2023. The growth rate experienced a notable deceleration in 2024. Franklin Templeton stands as the leading issuer in this asset category, representing approximately 38% of the market.
As per the CoinGecko report, the segment of tokenized U.S. government bonds saw remarkable growth of 641% in 2023, with their market capitalization reaching $861 million by early 2024.
In January 2023, the market cap of tokenized U.S. Treasury bonds was merely $114 million. However, by December 2023, the market volume had risen to $845 million. Over 57.5% of tokenized U.S. government bonds are issued on the Ethereum network, while an additional 39% are on the Stellar network.
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Approximately 38.6% of the market is attributed to assets issued by Franklin Templeton’s On-Chain U.S. Government Money Fund. The financial institution has issued tokens worth over $332 million, establishing itself as the largest issuer of tokenized U.S. government bonds.
Analysts have also identified Mountain Protocol and Ondo Finance as significant players in the market. Throughout the year, they launched USDM and USDY stablecoins, achieving market capitalizations of $154 million and $132.4 million, respectively.
The growth rate of the sector has notably slowed this year. For instance, in January 2024, the market cap of tokenized bonds increased by only 1.9%. According to analysts at CoinGecko, the primary driver behind the sector’s growth is the heightened interest from financial firms in the RWA market. As of February 1, 2024, the market capitalization of tokenized RWAs reached $1.1 billion.
Investors in Franklin Templeton recently received a communication in which the company’s analysts acknowledged the significant investment potential of meme coins.
Сообщение Market Cap of Tokenized U.S. Treasuries Grew by 641% in 2023 появились сначала на CoinsPaid Media.
