RWA Market Nears $34 Billion in May 2026 as Tokenized Treasuries Dominate

In May 2026, the real-world asset (RWA) tokenization market climbed to nearly $34 billion, excluding stablecoins, as institutions increasingly used blockchains for yield, collateral, and settlement. Tokenized U.S. Treasury bonds accounted for roughly half of the sector, while BlackRock's BUIDL fund rose above $1.7 billion and Franklin Templeton's FOBXX also contributed to growth.