Gold-backed tokens led a 600% surge in RWA to live on-chain collateral, with tokenized products and stocks now valued at over $7 billion.
According to a new Bitfinex report compiled by ChainCatcher, the market for tokenized products has mushroomed to nearly $7 billion, up nearly 600% since the beginning of 2025, as real-world assets move from pilot projects to live collateral on public blockchains. Bitfinex claims that “the main change is infrastructure” as on-chain products will be used for lending, trading, and treasury operations with “real-time transfers, global auditability, and increased transparency” compared to traditional payment rails.
Gold remains the dominant category, with Tether Gold ($XAUt) It holds approximately 40% of the tokenized products segment by market value and is positioned as the leading benchmark for tokenized bullion. Tether itself says $XAUt It currently accounts for “more than half of the total gold-backed stablecoin market,” with supply exceeding $4 billion as institutional demand for tokenized safe-haven assets accelerates.
Bitfinex’s analysis points out that the product mix is expanding beyond precious metals, with oil, natural gas, and agricultural products quickly gaining share. Currently, tokenized soybeans and soybean oil each account for approximately $400 million of the market, and the total value of green finance-related products and credits has reached approximately $850 million, reflecting how climate-related RWA is being built directly on-chain.
Bitfinex structures tokenized products as a new collateral layer for both centralized venues and DeFi protocols, mitigating counterparty risk and margin gaps with 24/7 settlement and instant finality. “More than $25 billion of real world assets (RWA) has been tokenized, but most of it is sitting idle, earning nothing,” the exchange said in a separate note, adding that there is an opportunity to incorporate these tokens into loans, derivatives, and structured products rather than treating them as static wrappers.
Crypto exchange and RWA experts also highlight how tokenized products are now aligning with tokenized government bonds and credits in a broader market with on-chain value exceeding $20 billion to $25 billion. Previous crypto.news coverage of the institutional RWA tokenization and stablecoin market described tokenized assets as “the new backbone of finance” as banks and asset managers move into tokenized U.S. Treasuries, commodities and private credit.
This trend is reinforced by the growth of stablecoins. Global stablecoin market capitalization recently reached an all-time high of over $315 billion, led by Tether’s USDT at about $184 billion and USD Coin (USDC) at about $79 billion, providing the liquidity rail that settles many RWA transactions. As a previous crypto.news article noted, regulated stablecoins and tokenized RWA are increasingly converging into “settlement layers for tokenized treasuries and other on-chain assets,” transforming the commodity from a niche experiment to a core financial plumbing.
