According to Shenzhen TechFlow, the Coingecko report shows that the market value of tokenized U.S. Treasury bonds increased from US$114.0 million in January 2023 to US$665 million at the end of September, an increase of 5.84 times. The number of projects issuing Treasury tokens has tripled this year, led by traditional financial institutions. As of the end of September 23, Franklin Templeton controlled 46.6% of the market share, followed by Ondo Finance with 26.8% market share ($178.3 million). Ondo Finance was launched in 2021 and transferred to RWA in February 2023. Most RWA protocols are based on Ethereum, which accounts for 49% of the market share. Stellar is the network of choice for Franklin Templeton and Wisdomtree, with a 48% market share.
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The market value of tokenized U.S. Treasury bonds reached US$665 million at the end of September, an increase of 5.84 times.
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