What is RWA (real world asset tokenization)?
Short answerCategory：Definitions
RWA (real world asset tokenization) maps ownership or cash-flow rights in traditional assets — bonds, money-market funds, private credit, real estate, equities, gold — onto blockchain tokens. The token itself creates no value; value comes from the off-chain asset and its legal structure. Three questions always come first: does the underlying asset really exist, who custodies it, and can the holder enforce a legal claim?
Evidence and detail
- "On-chain" does not mean "backed by an asset". The chain is the registry layer; value sits off-chain. An enforceable legal link must connect them.
- By size the main categories are: tokenized treasuries and money-market funds, private credit, funds, commodities (gold), real estate, equities.
- The chain is only a carrier. BlackRock BUIDL and Ondo OUSG are deployed on multiple chains (Ethereum / Solana / Polygon and others).
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