Track 03Module 3 of 56 sources
Real-world assets on chain: Treasuries, funds and equities
Know what has actually been tokenised at scale, how large it is and how to check the numbers yourself.
Key ideas
- Tokenised Treasury and money market funds are the first product with real scale, because they give on-chain cash a yield.
- Tokenised equities come in two forms: a direct record of the share, or a wrapper that tracks its price. The investor's rights differ sharply.
- Private credit is the other large category. Yields are higher because credit and liquidity risk are higher.
- Track the data, not the announcements. Most pilots stay pilots.
Start hereWatch or read these first. They carry the core idea.
Data
RWA.xyz: analytics on tokenized real-world assets
RWA.xyz
The live dashboard for tokenised Treasuries, credit and funds. Check the totals before believing a headline.
How Do Tokenized Equities Work? Ft. BlackRock’s Head of Digital Assets
Video · Tokenized · 37:28
How tokenised equities work, explained by the issuer of the largest tokenised fund.
CoreThe standard references. Work through them once the idea is clear.
Capital Markets Are Going Onchain
Video · Tokenized · 54:38
A long conversation on capital markets moving on chain.
Robinhood CEO: Tokenization Solves Liquidity Problem
Video · Bloomberg Television · 9:19
A broker's case for tokenised shares of private companies.
Data
Newsletter
Ledger Insights: enterprise blockchain and tokenisation news
Ledger Insights
The trade press for institutional tokenisation. Good for separating launches from pilots.
Practice
On RWA.xyz, note the total value of tokenised Treasuries today and the three largest issuers. Check again in a month and explain the change.
See it live
Where this leads
03.4 · TokenisationWhere it breaks: stability risks and retail lossesList the specific ways tokenised markets fail, and what past crypto shocks did to small investors.03.5 · TokenisationIndia: the e-rupee, GIFT City and the regulatory pathKnow where India stands: the RBI's digital rupee, the GIFT City sandbox and how regulators view private tokens.