RWAs & tokenization

Institutional center of gravity: Treasuries, funds, and credit—not collectibles-led. Figures here come fund by fund from issuers, each with its own date.

Definitions matter

Third-party dashboards define “tokenized real-world assets” differently. Some count only tokens that can move between wallets on public chains; others also count assets recorded on-chain but transferred only through the issuer’s own platform; some include stablecoins. Their totals are not interchangeable. Crypency does not publish a market-wide tokenized-RWA total. Instead, we show figures that individual funds and issuers publish themselves, using their own labels and as-of dates.

Concrete examples (illustrative)

Franklin OnChain U.S. Government Money Fund (FOBXX, “BENJI”) — Franklin Templeton reports total net assets of $667.96 million as of September 30, 2026 (updated monthly). Franklin Templeton fund page
Ondo USDY — Ondo reports a value of USDY outstanding of $2.06 billion as of October 7, 2026, 7:59:59 PM EDT (4:59 PM PT). “Outstanding” is a different measure from the fund’s underlying assets. ondo.finance/usdy
Ondo OUSG — Ondo reports a value of underlying assets of $321,533,898 as of October 8, 2026, 4:00 PM EDT (1:00 PM PT). OUSG holds positions in other tokenized funds, including BUIDL and BENJI, so adding OUSG to those funds would double count. ondo.finance/ousg
BlackRock BUIDL — tokenized U.S. dollar liquidity fund issued through Securitize. The public product page does not show an AUM figure, so we don’t quote one. securitize.io/blackrock/buidl
Securitize — transfer-agent and issuance platform. In its second-quarter 2026 results, Securitize reported total AUM of $4.3 billion as of June 30, 2026. That figure covers all Securitize funds combined, not BUIDL alone. Securitize Q2 2026 results
Circle USYC and Centrifuge — further examples across Treasury and credit infrastructure. Circle limits USYC information to non-U.S. persons, and we did not find a public fund-size figure, so none is shown.

These figures are the issuers’ own published numbers on different dates and measures. They are not performance claims, and they should not be added together or compared as if they share one date.

Collectible NFTs remain a cultural and gaming niche. Crypency keeps them distinct from the institutional RWA categories above.

Tokenization directory →