According to a report released by Binance Research on Friday, the total market value of on-chain tokenized real-world assets (RWA) has exceeded US$12 billion, reaching an all-time high.

Among them, the market value of tokenized Treasury funds (digital tokens of U.S. Treasury bonds) has exceeded US$2.2 billion, of which BlackRock's BUILD has a market value of nearly US$520 million and Franklin Templeton's FBOXX has a market value of US$434 million.