THEDEFIPLUG(@TheDeFiPlug):Here’s something I think the market is overlooking. Everyone talks about tokenized Treasuries because they’re the easiest part of the RWA category to follow. But tokenized credit has quietly become the second-largest RWA category, ahead of commodities. That changes where I think the next opportunity lies. ➢ Tokenized U.S. Treasuries: $14.81B distributed value ➢ Tokenized Credit: $5.91B distributed value ➢ Tokenized Commodities: $4.63B distributed value Treasuries are becoming the default onchain cash asset. Credit is where protocols start competing on underwriting, yield generation, and capital allocation.

2026.07.03 09:22

Here’s something I think the market is overlooking. Everyone talks about tokenized Treasuries because they’re the easiest part of the RWA category to follow. But tokenized credit has quietly become the second-largest RWA category, ahead of commodities. That changes where I think the next opportunity lies. ➢ Tokenized U.S. Treasuries: $14.81B distributed value ➢ Tokenized Credit: $5.91B distributed value ➢ Tokenized Commodities: $4.63B distributed value Treasuries are becoming the default onchain cash asset. Credit is where protocols start competing on underwriting, yield generation, and capital allocation.