Research Library
Reports
Browse our published RWA research — deep dives, market briefs, and due diligence reports.
Monthly RWA Market Brief — September 1, 2026
September 2026 RWA market update covering tokenized Treasuries, private credit, gold-backed commodities, tokenized equities, stablecoins, regulation, infrastructure and key legal, liquidity, credit and custody risks. RWA.xyz reported $303.24B stablecoin market cap, $6.83T 30-day transfer volume and 284.29M holders as of September 1.
Read ReportBi-Weekly RWA Market Brief — August 24, 2026
RWA.xyz's August 24 dashboard shows $345.88B represented asset value, $21.90T distributed asset value, 2.718M asset holders, and $302.30B stablecoin value. Treasury products remain the institutional beachhead, led by USYC, BUIDL, USDY and BENJI; tokenized credit is broadening but requires careful analysis of legal claims, underwriting and liquidity; gold-backed tokens XAUT and PAXG dominate commodities; and tokenized equities are expanding rapidly while ownership and settlement rights remain key diligence issues.
Read ReportBi-Weekly RWA Market Brief — August 17, 2026
RWA.xyz reported $38.10B distributed asset value, $366.30B represented asset value, and 2.00M holders as of August 17, 2026. Tokenized U.S. Treasury funds remained the institutional beachhead at approximately $16.21B, while tokenized credit was approximately $7.0B in the August 3 snapshot and tokenized commodities remained dominated by gold-backed products XAUT and PAXG. The brief covers market structure, diligence risks, infrastructure, and the two-week outlook.
Read ReportBi-Weekly RWA Market Brief — August 3, 2026
Latest RWA.xyz data shows $16.16B distributed value in tokenized U.S. Treasury funds, $7.00B in tokenized credit, and $4.56B in tokenized commodities as of August 3, 2026. Treasuries remain the strongest institutional beachhead, while credit is broadening but requires careful separation of distributed and represented value. The brief also covers DTCC production-trade signals, multi-chain expansion, risks, diligence priorities, and the two-week outlook.
Read ReportBi-Weekly RWA Market Brief — Week of July 21-27, 2026
Market update covering $36.8B+ total RWA value, treasuries at $15B+ (BUIDL dominates, BENJI pressuring fees), private credit at $5.9B with Maple leading 4.6B AUM, EU MiCA full enforcement (July 1), Hong Kong SFC regulatory progress, and outlook for next 2 weeks.
Read ReportSecuritize — The Infrastructure Layer Behind BUIDL
Comprehensive analysis of Securitize — the SEC-registered transfer agent and tokenization platform behind BlackRock BUIDL, Apollo ACRED, and VanEck VBILL. $4B+ AUM, NYSE-listed, BlackRock-backed. The picks-and-shovels play for RWA tokenization.
Read ReportFranklin Templeton BENJI — The Quiet Challenger
Comprehensive analysis of Franklin Templeton's BENJI — the first U.S.-registered tokenized money market fund and BUIDL's primary competitor. $2.5B AUM, $20 minimum investment, lowest fees in category, P2P transfers, intraday yield. Growing 400%+ in 2026.
Read ReportGoldfinch (GFI) — Case Study in Failure
Case study in failure: Goldfinch, the a16z-backed RWA lending protocol that wound down in June 2026 after $50M+ in defaults and a 99.8% token collapse. Analyzes root causes, the failure of uncollateralized lending, and lessons for the RWA sector.
Read ReportThe RWA Tokenization Landscape — Mid-2026 Market Brief
Mid-2026 market brief covering the entire RWA tokenization landscape: $36.8B total value, 6 asset categories, key players in each sector, growth trends, institutional adoption, and what to watch in H2 2026.
Read ReportMaple Finance (SYRUP) Deep-Dive
Comprehensive analysis of Maple Finance — the leader in on-chain private credit with $4B AUM and $12B+ cumulative originations. Covers SYRUP token migration from MPL, institutional lending model, 99% repayment rate, competitive positioning, and risk assessment.
Read ReportBlackRock BUIDL Fund Deep-Dive
Comprehensive analysis of BlackRock's BUIDL — the world's largest tokenized fund with $2.9B AUM across 9 blockchains. Covers fund structure (US Treasuries, BNY Mellon custody, Securitize tokenization), 40% market share, $5M minimum investment, yield analysis, and risk assessment.
Read ReportCentrifuge (CFG) Deep-Dive
Comprehensive analysis of Centrifuge — the pioneer of private credit tokenization on-chain. Covers V3 upgrade, securitization model (DROP/TIN tranches), team, tokenomics, competitive positioning vs Maple Finance and Goldfinch, and risk assessment.
Read ReportOndo Finance (ONDO) Deep-Dive
Comprehensive analysis of Ondo Finance - the leading RWA tokenization platform with $3.6B TVL. Covers product suite (OUSG, USDY, Ondo Stocks), team assessment, tokenomics, competitive positioning, and risk scoring.
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