The tokenised US treasuries market has seen an explosive growth, driven by high interest rates and increasing demand for secure, high-yielding on-chain assets.
As of June 22, 2024, the market has surged over 1,000% to reach $1.64 billion in value. BlackRock's BUIDL (CRYPTO:BUIDL) has emerged as the largest fund with $481.42 million, surpassing Franklin Templeton's BENJI.
This growth reflects a broader trend towards real-world asset tokenisation, attracting major financial institutions like Goldman Sachs and JPMorgan.
Tokenisation offers benefits such as enhanced liquidity and lower transaction costs, with stablecoins playing a pivotal role in driving sector expansion.