Neira argues tokenization must extend beyond assets to programmable money, enabling atomic settlement and real-time liquidity conversion across financial networks

RWA.xyz has $31.7B in distributed RWAs against $295.5B in stablecoin value, so the cash leg is already an order of magnitude deeper than the asset leg. The premium asset managers should care about is conversion latency: a Treasury token that can hit DvP or margin atomically is not the same product as a whitelisted receipt sitting in a custody stack, even if both report $1 NAV like BUIDL at $2.23B and USDY at $2.16B.

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