📈 The Total Value Locked (TVL) in $RWA protocols has increased by over 200% year-on-year to $7.30 billion, with government securities accounting for two-thirds of this total.

#$RWA protocol TVL has reached $7.30 billion, representing a year-on-year growth of over 200%. Among them, Usual Protocol and Hashnote USYC lead with approximately $1.48 billion in TVL respectively.
Hashnote is a regulated digital asset management platform that offers innovative investment strategies, while Usual Protocol is a decentralized stablecoin issuer that tokenizes $RWA and redistributes value back to users through governance tokens.
The composition of $RWA TVL has significantly shifted towards government securities, which now account for about two-thirds of the total $RWA TVL, up from 36% a year ago. Analysts believe this shift indicates a growing confidence among investors in compliant, government-backed digital assets and suggests that as protocols focus on traditional financial instruments, the market is maturing.