Insights
Tokenised infrastructure pushes Pharos deeper into RWA markets
- Pharos Network has launched PGNGI+, an on‑chain infrastructure fund product linked to Partners Group, extending its RealFi ecosystem beyond basic DeFi into tokenised infrastructure income rights.
- Pharos currently holds about US$127.75 million in active RWA value and US$6.79 million in DeFi TVL, which is materially smaller than leading RWA platforms such as Ondo ~US$3.44b TVL, Securitize ~US$4.96b, Maple ~US$2.23b and Centrifuge ~US$1.63b.
- The broader RWA sector is fragmenting by niche - tokenised funds and Treasuries Ondo, Centrifuge, institutional credit, and regulated issuance across many chains - with competition centred on institutional access, compliance frameworks and on‑chain liquidity.











