Tokenized Treasuries skyrocketed 125%, creating this “programmable cash” loop that banks are scrambling to copy
Tokenized US Treasuries surged 125% to $8.86 billion, establishing them as programmable cash that institutions are adopting.Summary
Tokenized real-world assets (RWAs) reached nearly $20 billion by January 2026, dominated by tokenized US Treasuries and money market funds, which grew 125% to $8.86 billion. Institutions are treating these tokenized Treasuries, like BlackRock's BUIDL fund, as "programmable cash" due to automated interest payments and 24/7 settlement, prompting banks like JPMorgan to launch similar products. Institutional alternative funds also saw massive growth (714%), though liquidity remains issuer-dependent, relying on redemption mechanisms rather than open order books. The market's future growth hinges on solving secondary trading liquidity, professionalizing custody infrastructure, and deepening stablecoin integration, with projections suggesting distributed RWAs could reach $57 billion by 2027 under a bull case scenario.
(Source：CryptoSlate)