Tokenized US Treasuries crossed $15 billion this year. BlackRock, Fidelity, Janus Henderson, and Franklin Templeton are all live onchain.
By one measure, RWAs are working.
By the measure that actually matters, they aren't yet.
The asset is onchain. The liquidity isn't.
For RWAs to scale to $100 billion and into the trillions, the onchain version has to be clearly better. Not just transferable. Truly liquid, instant, and composable.
This is the lane we've been building for at
@grovedotfinance.
More tomorrow...