independent rwa research
Rawer tracks the companies, protocols, assets, infrastructure and market trends shaping the tokenization of real-world assets.
Rawer is an independent research platform covering real-world assets, tokenization platforms, protocols and on-chain financial infrastructure.
$9.97B
▲ 0.3% 24h
| # | Project | Category | Chains | Last 7 days | |||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | BlackRock BUIDLBUIDL | Tokenized Treasuries | $2.41B | ▲ 0.4% | ▲ 2.1% | ▲ 6.8% | 88 | Ethereum, Solana +1 | |
| 2 | Ondo FinanceUSDY / OUSG | Tokenized Treasuries | $1.36B | ▲ 0.9% | ▲ 3.4% | ▲ 9.2% | 14,820 | Ethereum, Solana | |
| 3 | Tether GoldXAUT | Commodities | $1.12B | ▼ 0.6% | ▲ 1.2% | ▲ 4.1% | 9,310 | Ethereum, Tron | |
| 4 | Maple FinanceSYRUP | Private Credit | $980M | ▲ 1.8% | ▲ 5.6% | ▲ 14.3% | 6,120 | Ethereum, Solana | |
| 5 | Paxos GoldPAXG | Commodities | $890M | ▼ 0.5% | ▲ 0.9% | ▲ 3.7% | 71,240 | Ethereum | |
| 6 | Franklin OnChain FundBENJI | Tokenized Treasuries | $740M | ▲ 0.1% | ▼ 0.8% | ▲ 2.2% | 1,040 | Stellar, Polygon +1 | |
| 7 | Securitize— | Infrastructure | $660M | ▲ 0.3% | ▲ 1.5% | ▲ 5.9% | 3,280 | Ethereum, Polygon +1 | |
| 8 | CentrifugeCFG | Private Credit | $520M | ▼ 1.2% | ▼ 2.7% | ▲ 3.1% | 2,950 | Ethereum, Base +1 | |
| 9 | SuperstateUSTB | Tokenized Treasuries | $430M | ▲ 0.2% | ▲ 4.8% | ▲ 11.6% | 210 | Ethereum, Solana | |
| 10 | Figure— | Private Credit | $390M | ▲ 0.7% | ▲ 2.4% | ▲ 7.5% | 1,760 | Provenance |
demo data
market analysis · 15 Sept 2026
Where tokenized treasuries, private credit and tokenized funds are likely to grow next, which institutions are building the rails, and which structural constraints still bind.
by Mika Okabe · 14 min
updated
infrastructure · 02 Sept 2026
A map of the asset managers, transfer agents, custodians and chains that institutional tokenization programs actually rely on.
by Rosa Delgado · 10 min
stablecoins · 20 Aug 2026
Two forms of on-chain money with different issuers, balance-sheet treatment and redemption guarantees.
by Elias Haroun · 9 min
tokenized treasuries · 05 Aug 2026
From wrapped money-market fund shares to collateral-grade instruments used across on-chain markets.
by Mika Okabe · 8 min
updated 2026-09-24 08:00 utc
An evidence-driven comparison of platforms that tokenize real-world assets for third-party issuers, evaluated on seven consistent attributes.
4 tracked programs
updated 2026-09-20 08:00 utc
Treasury-backed products compared on structure, redemption and disclosure.
2 tracked programs
updated 2026-09-20 08:00 utc
Transfer agents, custodians and registries that institutional programs depend on.
3 tracked programs
compare · 25 Sept 2026
A product issuer and a protocol compared on identical dimensions: use cases, assets, customers, technology, business model and institutional positioning.
compare · 20 Sept 2026
Two approaches to on-chain credit: delegate-managed pools versus asset-originator pools.
compare · 20 Sept 2026
Two tokenization platforms compared on regulatory model and issuer tooling.
primer · 10 min
A plain-language guide to tokenized treasuries, private credit, real estate and funds: what they are, how tokenization works, and where the risks sit.
updated 26 Sept 2026
primer · 7 min
From legal wrapper to on-chain register: the steps that turn an asset into a transferable token.
updated 10 Sept 2026
primer · 6 min
How government debt is held, wrapped and redeemed when it is represented on a blockchain.
updated 08 Sept 2026
Rawer separates factual data, analysis and editorial judgment. Every piece of research shows its sources, methodology, authors and update dates, so readers can check the evidence before trusting the conclusion.