Total RWA Value Locked
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Top Issuers
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Top Networks
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RWA Protocols
Live on-chain protocols tokenizing real-world assets, ranked by value locked.
| # | Protocol | Category | 24h Change | Value Locked |
|---|---|---|---|---|
| Loading live RWA protocol data… | ||||
Figures show on-chain value locked in tokenized RWA protocols, sourced live from DefiLlama's free public API — the closest free equivalent to CoinMarketCap's combined "Total Tokenized Market Cap" feed, which blends issuer, stock, commodity and ETF data from paid sources CMC licenses directly. Coverage and totals won't match CMC's figures exactly.
Data & charting tools
Where this page's numbers come from, plus other trusted places to double-check them.
What are real-world assets (RWA)?
Real-world assets are tangible or traditional financial assets — like gold, government bonds, private credit, or company stock — represented as tokens on a blockchain. Tokenizing an asset lets it be traded, transferred, or used in DeFi the same way a native crypto asset can.
Why tokenize a real-world asset?
Tokenization can make an asset easier to divide into small shares, faster to settle, and available to a global pool of buyers around the clock, instead of being limited to a local market's trading hours and paperwork.
What "value locked" means here
Value locked is the current on-chain worth of the assets a protocol has tokenized or is holding as collateral. It rises and falls both with new tokenization activity and with the market price of the underlying asset.
Frequently asked questions
Is a tokenized asset the same as owning the real thing?
Usually not directly — most tokenized assets represent a claim on the underlying asset held by an issuer, similar to how a share certificate represents ownership rather than being the company itself. Terms vary by issuer, so it's worth checking each protocol's specific structure.
Why do the numbers here differ from CoinMarketCap's RWA page?
CoinMarketCap blends data from paid market-data licenses covering stocks, commodities and ETFs alongside on-chain figures. This page uses only free, publicly available on-chain data, so it captures crypto-native RWA protocols but not every tokenized stock or commodity CMC tracks.
Which networks host the most RWA activity?
The Top Networks chart above updates live and typically shows Ethereum carrying the largest share, since most major RWA issuers launched there first, with newer activity spreading to other chains over time.