tl;dr
BNB Chain and XRP Ledger (XRPL) have shown significant growth in the Real World Asset (RWA) sector, with BNB Chain's RWA value increasing by 1,540% and XRPL's by 52.2% in August. Meanwhile, protocols like Ethereum, Aptos, Solana, and Stellar saw declines. BNB Chain's growth is driven by VanEck’s tok...
BNB Chain and XRP Ledger (XRPL) have emerged as leaders in the Real World Asset (RWA) sector, reporting significant growth amidst an overall decline in the industry. In August, BNB Chain’s RWA value surged 1,540% over 30 days, securing its position as the top gainer, while XRPL followed with a 52.2% increase. Conversely, major protocols like Ethereum, Aptos, Solana, and Stellar faced value decreases in the same period.
BNB Chain now commands 0.33% of the RWA market share, largely driven by the VanEck Treasury Fund (VBILL), VanEck’s first tokenized fund that provides on-chain access to US Treasury bills across multiple blockchains. Similarly, XRPL’s growth is attributed to the OpenEden TBILL Vault, a smart contract vault offering stablecoin holders sustainable yields backed 1:1 by T-Bills, USD Coin, and US dollar reserves. Additionally, Ripple’s RLUSD stablecoin has played a key role in XRPL’s expansion, marking one of the fastest-growing assets in the sector.
XRPL’s recent advancements in tokenization include partnerships such as the Dubai Land Department’s Real Estate Tokenization Project and the integration of Circle’s USDC stablecoin onto the network. Ripple forecasts that the RWA sector could reach a staggering $18.9 trillion by 2033, signaling strong optimism towards future growth.
However, skepticism remains. Financial heavyweight JP Morgan characterizes the market for tokenized assets as "rather insignificant," citing a lack of traditional investor interest and minimal shift from conventional bank deposits to tokenized versions. The sector is predominantly led by crypto-native firms, with a total market capitalization near $25.7 billion and relatively slow growth of 14.8% in the past month, lagging behind the expansive gains seen in NFTs, Ethereum, and decentralized finance.