Polygon has emerged as a major player in the tokenized real-world asset (RWA) market, according to a report from blockchain analytics firm Dune and data platform RWA.xyz.
As of September 17, the network holds over $1.13 billion in total value locked (TVL) across 269 assets and nearly 3,000 holders.
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The RWA Report 2025 indicates that the tokenized asset sector has grown by 224% since early 2024, initially driven by U.S. Treasuries and now expanding into higher-yield products, such as private credit and bonds.
Polygon dominates the global tokenized bonds market with a 62% share, far ahead of Ethereum at 5%, and controls 29% of tokenized U.S. T-Bills through Spiko’s USTBL token.
Polygon’s Proof-of-Stake network now holds $1.13 billion in tokenized real-world assets across 269 assets and nearly 3,000 holders, and the numbers continue to grow, according to Sandeep Nailwal, CEO of the Polygon Foundation.
Experts credit Polygon’s growth to technical upgrades, including the recent “Rio” deployment on the Amoy testnet, and integration with DeFi protocols, which allow tokenized assets to serve as programmable collateral.
The report also highlights a broader trend of traditional finance moving on-chain. Major players, including Nasdaq, are exploring tokenized securities, signaling that pilots are evolving into scalable, real-world financial products.
On the Flipside
- Tokenized real-world assets operate in a space where global regulations are still evolving.
- Other major networks like Ethereum and Solana are expanding into RWAs. Polygon’s lead is significant but not guaranteed long-term.
Why This Matters
The report does not provide details on immediate market reactions, but Polygon’s dominance in real-world assets (RWA) is likely to boost confidence in its ecosystem and draw greater institutional interest.
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People Also Ask:
Polygon is a scalable blockchain network that enables decentralized finance (DeFi) applications. It has become a major platform for tokenized real-world assets (RWAs), allowing investors to hold assets like bonds, private credit, and U.S. Treasuries on-chain.
RWAs are traditional financial assets—such as bonds, loans, or securities—that are represented as digital tokens on a blockchain. This process, called tokenization, allows these assets to be traded, used as collateral, or integrated into DeFi protocols.
Polygon dominates the global tokenized bonds market with a 62% share and holds 29% of tokenized U.S. T-Bills through Spiko’s USTBL token. Its scalability and integration with DeFi protocols make it a key network for real-world asset adoption.
Tokenization increases liquidity, transparency, and accessibility. Investors can use RWAs as programmable collateral in DeFi, trade fractionalized assets, and gain exposure to traditional financial products without intermediaries.
Growth is fueled by higher-yield tokenized assets, DeFi integration, and Polygon’s technical upgrades, attracting more traditional finance capital on-chain.
