Tokenized US Treasuries Pass $4B as On-Chain Yield Gains Traction
Tokenized Treasury products from several issuers offer on-chain returns near short-term T-bill yields with 24/7 transferability. Ondo, Maple and Superstate account for most of the growth.
Versus stablecoins, tokenized Treasuries add a yield component while keeping liquidity, and are widely used by DeFi protocols for treasury management and collateral. Some are already accepted as eligible collateral in major lending markets.
Analysts argue tokenized Treasuries are the first RWA sub-sector to reach product-market fit and could eventually compete directly with traditional money-market funds.
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