With traditional finance companies on board, tokenized treasuries in the United States witnessed a growth spurt of 641% in 2023, according to digital asset data tracker CoinGecko.
On March 21, CoinGecko published its 2024 report titled “Rise of Real World Assets in Crypto,” highlighting progress in real-world assets (RWA) tokenization.
CoinGecko said that in 2023, tokenized treasuries went from $114 million in January 2023 to $845 million by the end of the year. This shows that blockchain-based digital tokens representing U.S. Treasury securities gained a 641% growth within a year.
Tokenized securities are digital tokens backed by RWAs like stocks and bonds. For example, the Ondo Short-Term US Government Bond Fund uses the OUSG token to represent ownership of a share of the fund and its yield.
CoinGecko highlighted that asset management firm Franklin Templeton is…
