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As of April 2025, the overall market capitalization of tokenized real-world assets (RWA) reached about $233 billion. The primary catalyst for this growth is the rising popularity of fiat-pegged stablecoins.
A CoinGecko report indicates that in the first quarter of 2025, the RWA market expanded by roughly $104 billion compared to the prior period, achieving a total of $232.9 billion by early April.
The most significant growth was observed in the fiat-pegged stablecoin sector, which surged to $224.9 billion in April 2025, marking an increase of $97 billion since December 2024. The cumulative growth for the current year was 76%. Within this category, dollar-pegged stablecoins represent 93.5%:
- Tether’s USDT increased by $56.3 billion in 2025, reaching a market cap of $148 billion;
- Circle’s USDC rose by $37.6 billion to $62.1 billion;
- Sky Protocol’s USDS climbed by $2.4 billion to a total capitalization of $7.6 billion.
The sector of tokenized treasury bonds experienced a growth of 544.8% in 2025, reaching $5.6 billion in April. The most notable surge occurred in March, driven by new U.S. trade tariffs that resulted in a 67.1% increase, propelling the sector’s volume to $2.3 billion within a single month. The market leader is BlackRock’s BUIDL, which was launched in July 2024 and holds approximately 44% of the market with a valuation of $2.5 billion. The report further highlights that the majority of tokenized bonds are issued on the Ethereum and Stellar blockchains.
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The tokenized commodities sector grew by 67.8% in 2025, expanding by $773.9 million from January to April, ultimately reaching $1.9 billion. This growth was primarily fueled by rising gold prices, which increased the demand for precious metal-backed assets. The leading tokens in this area are Tether Gold (XAUT) and PAX Gold (PAXG), which collectively account for 84% of its market capitalization.
On-chain lending volume achieved $546.8 million, reflecting an increase of $97.3 million in 2025. The frontrunner in this field is Maple Finance, which commands approximately 67% of the market, with outstanding loans on the platform totaling $374 million.
The tokenized equities market reached $11.4 million in 2025, marking a 297% increase since early 2024. The leading players in this sector are Backed Finance and Dinari, with the tokenized S&P 500 index being the most sought-after product.
According to analysts at CoinGecko, the RWA market has emerged as one of the fastest-expanding sectors within the cryptocurrency market, demonstrating not only substantial capital growth but also a rising interest from institutional investors.
In 2024, the RWA sector similarly stood out as the fastest-growing segment of the cryptocurrency market, with the total value locked (TVL) in the sector increasing by 60% over the year.
Сообщение Tokenized Real-World Assets Market Nearly Doubled in Q1 2025 появились сначала на CoinsPaid Media.
