The real-world asset (RWA) sector in decentralized finance (DeFi) has gained significant traction over the past two months following a multi-month consolidation period. According to DefiLlama data tracked by The Block, the total value locked (TVL) in RWA projects reached a record $6.6 billion on August 31, before correcting to $5.75 billion. Despite this correction, leading RWA projects continue to expand.

Usual Money, a decentralized fiat-backed stablecoin issuer, reached a record TVL of $222.5 million on September 4, marking a 50% increase over the past month. Hashnote surpassed $250 million in TVL on September 3, while Ondo Finance hit a new TVL record of $600 million earlier this month.