Tokenized Real-World Assets (RWA)
On-chain T-bills, tokenized real estate, private credit, and the legal plumbing that makes (or breaks) these products. Where the institutional money is actually going.
4 lessons · 2 hr 30 min · advanced
- 1What RWA Actually MeansDefining the category: from tokenized treasuries to fractionalized art, and why stablecoins are RWA-in-disguise.25 min
- 2Tokenized Treasuries: BlackRock BUIDL, Ondo, MountainThe biggest RWA category. BlackRock BUIDL, Ondo OUSG/USDY, Franklin Templeton BENJI, Mountain USDM, and the Securitize/BNY Mellon plumbing behind them.35 min
- 3Private Credit & Trade Finance On-ChainMaple, Goldfinch, Centrifuge, Plume. How on-chain credit works, the 2022 Maple defaults, and why credit risk is the real risk in this category.30 min
- 4Legal Wrappers, KYC, and Why Most RWAs Are PermissionedERC-3643, Polymesh, KYC providers (Sumsub, Onfido, Persona), and the legal plumbing that makes "permissionless" RWA mostly a marketing line.25 min
Educational only — not financial advice.