BlackRock and Franklin Templeton lead surge in tokenised US Treasuries

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.