High interest rates have increased interest in on-chain T-bills that are safe and generate high returns. This has pushed the value of tokenized US Treasury products by more than 1,000% since the start of 2023, reaching $1.64 billion on June 22.

Key players such as corporate giants BlackRock and Franklin Templeton are leading the way. BlackRock's tokenized US Treasury BUIDL, has topped $481.42 million, recently overtaking Franklin Templeton's $357.68 million BENJI fund to become the largest. Hedge Funds and Market Makers use BUIDL as collateral to trade coins and tokens that are included in their trading lists.

This growth represents a significant shift in the financial industry, where tokenization of real-world assets (RWA) is becoming increasingly popular. Large financial institutions such as Goldman Sachs, JPMorgan, and Citi are also known to be actively exploring and investing in tokenization technology.

#bitcoin #Ethereum #Binance