Aptos Becomes Top 3 Blockchain for RWA with $540M in Tokenized Assets

Real-world asset (RWA) tokenization on the Aptos blockchain has gained significant momentum in recent months, with the total value of onchain assets surpassing $540 million, driven by multiple deployments from traditional asset managers.

The value of RWA deployments on the Aptos network has grown by 57.1% over the past 30 days, reaching $542.3 million, according to RWA.xyz data. This surge places Aptos among the top three blockchains for RWA deployment, behind Ethereum and ZKsync Era.

The largest RWA issuers on Aptos are Berkeley Square of the PACT Consortium, BlackRock’s BUIDL, which expanded to Aptos last November, and Franklin Templeton’s BENJI token.

While Ethereum remains the leading blockchain for RWA deployments, with nearly $7.6 billion in total value, its growth has slowed in recent months. Over the past 30 days, the value of RWA assets on Ethereum has increased by just 5.4%.

However, as RedStone’s latest report on RWA tokenization trends showed, Ethereum accounts for 59% of the total market as of June.

Related: Franklin Templeton launches ‘intraday yield’ for tokenized assets on Benji

Aptos short-listed for Wyoming stablecoin project

In addition to attracting large institutional issuers, Aptos has also drawn the attention of the US state of Wyoming, which has shortlisted the blockchain for its stablecoin pilot program.

As Cointelegraph reported, the Wyoming Stable Token Commission awarded Aptos the highest technical score among more than 10 blockchains evaluated for its forthcoming WYST project.

WYST, a dollar-backed stablecoin initiative conceived in 2023, will become Wyoming’s official stablecoin once deployed. The stablecoin’s backers say it positions Wyoming at the forefront of blockchain innovation while creating potential revenue streams by earning interest on the US Treasury bonds backing the token.

“While Wyoming isn’t building on Aptos yet, their Stable Token Commission has placed Aptos as the highest scoring blockchain candidate based on throughput, fees, finality, vendor support, and security,” Aptos Labs’ head of capital markets, Solomon Tesfaye, told Cointelegraph.

In addition to Aptos, the Sei blockchain was also short-listed for the WYST project, with a final pilot score of 30 points.

Related: Crypto firm for Deutsche, State Street launches private stablecoin contract