Aptos Surges to Top 3 Blockchain for RWA with $540M in Tokenized Assets
Surge in Real-World Asset Tokenization on Aptos blockchain
Rapid Growth of RWA Deployments
The tokenization of real-world assets (RWAs) on the Aptos blockchain has seen remarkable growth recently, with the total on-chain asset value exceeding $540 million. This increase is largely attributed to several traditional asset managers entering the space.
Recent data from RWA.xyz indicates that the value of RWA projects on Aptos has surged by 57.1% in the last month, reaching approximately $542.3 million. This impressive growth positions Aptos as one of the leading blockchains for RWA initiatives, ranking third after Ethereum and ZKsync Era.
Among the prominent issuers of RWAs on the Aptos network are Berkeley Square from the PACT Consortium, BlackRock’s BUIDL, which made its debut on Aptos last November, and Franklin Templeton’s BENJI token.
Comparison with Ethereum’s RWA Market
While Ethereum continues to dominate the RWA landscape with nearly $7.6 billion in total asset value, its growth has recently slowed. Over the past month, the value of RWA assets on Ethereum has only increased by 5.4%.
According to a recent report by RedStone, Ethereum still commands a significant portion of the market, accounting for 59% of total RWA deployments as of June.
Related Developments
Franklin Templeton has recently introduced an ‘intraday yield’ feature for its tokenized assets on the BENJI platform.
Aptos Selected for Wyoming Stablecoin Initiative
In addition to attracting major institutional players, Aptos has caught the eye of Wyoming, which has shortlisted the blockchain for its stablecoin pilot program.
As reported by Cointelegraph, the Wyoming Stable Token Commission awarded Aptos the highest technical score among over ten blockchains assessed for the upcoming WYST project.
Overview of the WYST Project
WYST is a dollar-backed stablecoin initiative launched in 2023, which aims to become Wyoming’s official stablecoin upon deployment. Proponents of the stablecoin believe it will position Wyoming as a leader in blockchain innovation while also creating potential revenue opportunities through interest earned on US Treasury bonds that back the token.
According to Solomon Tesfaye, head of capital markets at Aptos Labs, “Although Wyoming has not yet begun building on Aptos, their Stable Token Commission has recognized Aptos as the top blockchain candidate based on criteria such as throughput, fees, finality, vendor support, and security.”
In addition to Aptos, the Sei blockchain has also been shortlisted for the WYST project, achieving a final pilot score of 30 points.
Related News
A crypto firm associated with Deutsche Bank and State Street has launched a private stablecoin contract, further highlighting the evolving landscape of digital assets.
