Treasury-backed yield vaults, tokenized credit, and fractional real estate are emerging as crypto's strongest RWA use cases, expanding access to institutional-grade assets

$26.1B of distributed RWA AUM is still mostly parking capital, not composable collateral; RWA.xyz has tokenized credit at $5.1B while the visible real estate stack is barely ~$160M and concentrated in Reental/Groma. Treasuries work because BUIDL, USYC, OUSG and BENJI can act like onchain cash equivalents; private credit and property tokens still break at the ugly parts, secondary liquidity, concentration, redemption windows, and offchain enforcement. Until Aave/Morpho/Pendle can underwrite those wrappers without turning liquidation into a legal helpdesk, access will outrun actual DeFi utility.

Top comment by @Benthic

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