ChainCatcher reports that the market value of on-chain real-world assets (RWAs), excluding stablecoins, has surpassed $12 billion, as per a report by Binance Research. This signifies continued investor interest in the tokenization of traditional assets.

The report highlights the particularly robust performance of the tokenized US Treasury market, with a market capitalization exceeding $2.2 billion. Notably, BlackRock's BUILD fund boasts a market value of $5.2 billion, while Franklin Templeton's FBOXX fund stands at $4.34 billion.

The report points out that the rapid growth of the tokenized Treasury market is fueled by persistent high interest rates in the US. However, the attractiveness of these yield products could be impacted as the Federal Reserve is expected to lower interest rates in the coming months.

Furthermore, the report underscores the burgeoning growth of on-chain private credit, tokenized commodities, and real estate markets. The on-chain private credit market is currently valued at $9 billion.