TL;DR
- Solana’s real-world asset (RWA) sector has surged over 140% this year, driven by tokenized Treasuries, equities, and private credit.
- Major players like BlackRock, Ondo, and Backed are fueling adoption with new products such as BUIDL and xStocks.
- With more than $418 million in tokenized assets and expanding partnerships, Solana is emerging as a leading blockchain for bridging traditional finance with decentralized markets.
Solana’s push into real-world assets is rewriting how global capital flows operate on blockchain rails. Once focused mainly on DeFi and NFTs, Solana now hosts an expanding universe of tokenized Treasuries, equities, real estate, and exotic physical goods. With over $418 million in RWAs recorded onchain—up 140% so far in 2025—the network is proving it can handle institutional demand while keeping barriers low for retail users.
At the forefront is Ondo Finance’s USDY, the largest single RWA on Solana with $175 million in value. USDY acts as a yield-bearing stablecoin, backed by Treasuries and bank deposits, and freely moves between blockchains via LayerZero. Just behind is OUSG, another Ondo offering, mirroring BlackRock’s BUIDL fund for accredited investors. Together, these products highlight how Treasuries have become the backbone of tokenized yield.
Tokenized Stocks Expand Access
Equities are joining the mix. In late June, Backed launched xStocks on Solana with Kraken, opening tokenized shares and ETFs like SPYx and TSLAx to tens of thousands of wallets worldwide. Superstate’s Opening Bell will soon allow SEC-registered firms to list equities directly onchain, while Ondo’s Global Markets will bring real shares to non-U.S. investors through a compliant brokerage model. These moves break down barriers for investors unable to access U.S. markets through traditional brokers.
Private Credit And Alternative Funds Gain Traction
Beyond public assets, Solana’s private credit ecosystem is growing through projects like Maple Finance’s syrupUSDC and Apollo’s ACRED fund. SyrupUSDC alone has surpassed $60 million in market cap by transforming institutional credit into a stablecoin format that can circulate in DeFi. Apollo’s ACRED, meanwhile, turns corporate loans into DeFi collateral.
Tokenized real estate is also on the rise. Platforms like Parcl, Homebase, and MetaWealth offer fractionalized access to housing and commercial property, broadening exposure far beyond local borders. Even unique physical goods—fine spirits, trading cards, and agricultural commodities—are finding a home on Solana through startups like BAXUS and AgriDex.
With R3 planning to migrate over $10 billion in tokenized assets from its permissioned Corda network to Solana, the stage is set for even larger institutional flows. Backed by fast settlement, low fees, and composable standards, Solana’s RWA boom is making traditional finance borderless, programmable, and accessible around the clock.
