RWAs & Tokenization Researcher. Pharmacist.

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Joined August 2020
Looking for tokenized RWA projects other than just tokenized stocks, look no further. Here’s your comprehensive list.
Tokenized assets are beyond public stocks. That I talk about stocks all the time does not mean there are no other categories. Using @RWAFoundation_’s list, I looked out over 140 projects building in several categories beyond tokenized public stocks. A thread 🧵.
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.@Securitize listened and added labels to their stocks. - CET: Convertible Entitlement Tokens. They represent entitlement tokens and the whole idea around the CETs is to serve as a pathway to conversion to issuer sponsored tokens when the path opens. For example, if Amazon finally accepts to bring their shares onchain with securitize, you have the right to convert your stock entitlement directly into actual registered shares on the company's register. - IST: Issuer Sponsored Tokens. They represent tokens that are the real share. $SECZ is the only IST available rn, but hopefully we get many other companies to give in as tokenization wings grow even further.
another big day for tokenization as @Securitize finally launches tokenized U.S. stocks that is available for trading within the U.S perimeters. would be nice to highlight a few things here. - these new tokenized stocks by securitize barring $SECZ are not issuer sponsored but security entitlements per the NY UCC article 8. - suprisingly, @Backpack issues similar tokenized stocks that are security entitlements but are not available for trading within the U.S. here is why. > backpack's restriction is not caused by the security entitlement itself, but by the platform's integrated crypto native capabilities. U.S. regulations do not allow a single consumer account to seamlessly blend traditional equities with unregulated crypto and high-risk derivatives which they do. under SEC rule 15c3-3, U.S. broker dealers must keep customer securities strictly separated from the firm's own business capital and other volatile asset classes. here is what securitize did differently to beat this. > @Securitize designed its convertible entitlement token (CET) model to blend perfectly into existing U.S. regulatory frameworks rather than fighting them. They achieved U.S. compliance by building a native, ring-fenced financial stack. > secondary market trading for securitize stocks goes strictly through Securitize Markets, LLC, which is an SEC-registered Broker-Dealer and Alternative Trading System (ATS). > securitize does not let U.S. retail users use stocks as cross-margin for crypto perps. securitize stocks function strictly as spot tokenized equity with the tokens architected to support onchain lending utility via @aave (coming soon). They successfully maintained the segregation needed per SEC rules. > also, they record ownership via their own SEC-registered digital transfer agent stack. This ensures the blockchain serves as a compliant secondary ledger while keeping the master ownership file aligned with traditional regulatory expectations. > right now, you can trade $AAPL, $AMZN, $CRCL, $GOOGL, $META, $MSFT, $MSTR, $NFLX, $NVDA, $PLTR, $SPCX, and $TSLA 24/5 with 24/7 trading coming soon. the fact that they were the first to execute this after all the back and forth shows that it's no simple work to do. also, do not forget that these stocks carry real dividend and voting rights. like they say over at their hq, tokenize the f*king world!
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Everyone wants yield onchain. But nobody actually tells you which one fits you. No worries, I’m always here to help. - In the U.S, Franklin BENJI (@FTDA_US) or WisdomTree (@WisdomTreeFunds) WTGXX, straight from their apps. - Outside the U.S. and want your money back any day. @Ondo, @Spiko_finance and @MidasRWA pay approximately 3.5–3.7% on T-bills. - Don't want KYC at all. Sky Savings (@SkyEcosystem) pays 3.68% and @ethena pays 4.90% if you're not in the U.S. or EU. - Can wait for your money? @maplefinance pays 5.19% on overcollateralized loans. - Can stomach more risk? Reinsurance, AI GPU loans and fintech credit pay 6.7–7.2%. The higher the yield, the harder the exit and the bigger the risk.
There are now 1,000s of tokenized stocks and at least 12 ways to buy them. Most people pick the wrong one because they never asked the right questions first. So I made a flowchart to help you pick the right one. - U.S. person? Dinari or Securitize 
- Want the actual registered share? Native shares via Superstate and Securitize. - Happy in an exchange app? Bitget, Luno, Robinhood Classic and many others. 
- Want it in your own wallet? Coinbase, xStocks, bStocks, Robinhood Stock Tokens, Ondo Stocks or PreStocks, depending on what you plan to do with it. Save it and send it to someone buying their first stock token. Not financial advice. @DinariGlobal @Securitize @SuperstateInc @bitget @LunoGlobal @RobinhoodApp @coinbase @xStocksFi @binance @Ondo @PreStocks @RealityFi_xyz.
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Goldman Sachs objected. .@NYSE's owner filed to trade 63 U.S. stocks onchain, 24/7 and SEC has given every company 30 days to object. With about 12 days left, here's how the board looks like. - 47 have said nothing - 16 have said no - Nvidia, Apple, Tesla, Amazon and SpaceX are still in - Microsoft and Alphabet are out - Goldman Sachs objected. - Walmart, Coca-Cola, Netflix and Eli Lilly are still in. I'll keep updating this until the window closes in early November.
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Wrote my final exams today and also signed out. My induction comes up q1 2027. Pushing loads of tokenization contents tomorrow!
I signed out of pharmacy school today. A good 6 years well spent at the University of Ibadan, Nigeria. Now a pharmacist 😎.
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I signed out of pharmacy school today. A good 6 years well spent at the University of Ibadan, Nigeria. Now a pharmacist 😎.
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stein retweeted
Indeed it was
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There's now $5.38B of real gold onchain. > 40.1 tonnes of gold > 3,224 standard bank vault bars, each worth about $1.67M If you stack one on top of another, they stand 113 metres tall. - That's taller than the Statue of Liberty - And two-thirds of the way up the Washington Monument The crazy part is that if you melt it all down, it fits in a cube 1.28 m wide. Every gram is sitting in a vault, and anyone can simply own a piece of it from a phone. That’s what tokenization unlocks. Data: @tokenterminal
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Rest in peace, "Market Closed." For 234 years it decided when you could trade. Here is a bit of history. - 24 brokers signed the Buttonwood Agreement outside 68 Wall Street on 17 May 1792, which makes it 234 years old. - in the late 1960s, exchanges closed on Wednesdays to catch up on paperwork. Paper certificates went into DTC's vault when it was founded in 1973. - settlement went from T+5 to T+3 (1993), T+2 (2017) and T+1 (May 2024). - DTCC's first live tokenized trades on 15 July, the SEC exemption on 17 September, and JPM Coin moving to Ethereum on 19 October. Wall Street moved onchain and everything changed forever. Gone but will not be missed.
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Tokenization is no longer a typical crypto conversation. It's already on Wall Street earnings calls. - @GoldmanSachs: "We've tokenized bonds… money market funds… real estate." - @Citi: tokenized deposits are "the area we've been most excited about." - @Citi: it's "now operating in seven markets." - @WellsFargo: tokenized payments now land in approximately 2 minutes, down from 1–2 days. The most interesting thing is that we have barely scratched the surface. You’re early.
Wall Street's money onchain just went 10x. Two years ago, 4 big asset managers had $0.74B in tokenized products. Today, 9 of them hold $7.72B in total. - @FTDA_US leads with $2.45B, up 164% in a year. - @BlackRock is second at $2.25B, even after a 21% dip. - @WisdomTreeFunds crossed $1B, up 77%. - @jpmorgan came from zero to $845M - @InvescoUS grew 23% to $830M Not all of them went up. For example, Fidelity, Apollo and VanEck all shrank this year. But the direction is super clear. The biggest money managers on earth are moving funds onchain. Data per @tokenterminal.
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Wall Street's money onchain just went 10x. Two years ago, 4 big asset managers had $0.74B in tokenized products. Today, 9 of them hold $7.72B in total. - @FTDA_US leads with $2.45B, up 164% in a year. - @BlackRock is second at $2.25B, even after a 21% dip. - @WisdomTreeFunds crossed $1B, up 77%. - @jpmorgan came from zero to $845M - @InvescoUS grew 23% to $830M Not all of them went up. For example, Fidelity, Apollo and VanEck all shrank this year. But the direction is super clear. The biggest money managers on earth are moving funds onchain. Data per @tokenterminal.
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stein retweeted
2.33%. That's the value of Wall Street's tokenization forecast that is onchain today. You may think we are far behind, but here is what happened in this last two years. - October 2024: $6.98B onchain - October 2026: $46.6B onchain - That's +158% a year, faster than McKinsey's $2T target needs. - Tokenized stocks went from $21.5M to $3.99B which is about 185x. - Tokenized treasury funds did +66% in the last year alone. The truth is that every market looks small before it eventually gets big and the TAM of tokenization tells the whole story well. At 2.33%, we haven’t even scratched the surface.
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2.33%. That's the value of Wall Street's tokenization forecast that is onchain today. You may think we are far behind, but here is what happened in this last two years. - October 2024: $6.98B onchain - October 2026: $46.6B onchain - That's +158% a year, faster than McKinsey's $2T target needs. - Tokenized stocks went from $21.5M to $3.99B which is about 185x. - Tokenized treasury funds did +66% in the last year alone. The truth is that every market looks small before it eventually gets big and the TAM of tokenization tells the whole story well. At 2.33%, we haven’t even scratched the surface.
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stein retweeted
You bought a tokenized stock. What next? Many people just hold it but about $250M of tokenized stocks are already doing more work in DeFi. Here's where each one works 🥇 @xStocksFi: $110.7M in DeFi The most useful stock token onchain right now. 
- Swap and LP on @Raydium, @Uniswap, @orca_so and @MeteoraAG. 
- Borrow against it on @kamino and @JupiterExchange lend. 
- Loop it with Kamino or Jupiter Multiply 
- Earn on @pendle_fi or @krakenfx's xStocks vaults (~2%, paid in the stock). 🥈 @RobinhoodApp: $74.9M 
Almost all of it sits in Uniswap pools on Robinhood chain. - Borrow on @Morpho 
- Trade NVDA and PFE dividends on @pendle_fi 🥉 Binance bStocks (@bstocksfinance): $37.8M 
- @PancakeSwap pools ($35.6M) 
- Borrow stablecoins against TSLAB, NVDAB and SPCXB on @VenusProtocol 4️⃣ @coinbase: $22.5M 
- @aeroxyz pools 
- Borrow on @aave 5️⃣ @Ondo : $3.3M 
The only stock you can use as perps margin. - SPYon and QQQon available on @OndoPerps. 6️⃣ @DinariGlobal: Uniswap pools only.
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Smart money has already picked its side in tokenization. I highlighted 26 investors and every RWA project they've funded since 2022. - @a16zcrypto led a $355M round into @CantonNetwork, joined by Apollo, Citadel Securities and HSBC. - @BlackRock led @Securitize's $47M round, and ARK and Circle followed. - Bain Capital Crypto co-led @SuperstateInc's $82.5M Series B with 12 other backers. - @cbventures and @FTDA_US backed @MidasRWA's $50M Series A. - @paradigm led both @withAUSD's $50M Series A and 3Jane's seed. - @PanteraCapital led @FissionXYZ's $10M round and launched a $250M RWA fund with @Ondo. - Apollo backed @plumenetwork and @CantonNetwork. - Haun and Brevan Howard got into Plume early, then doubled down on Superstate. - @krakenfx didn't invest in Backed. It bought it, along with xStocks. The pattern is crystal clear. Crypto VCs are funding the rails while Street is funding the issuers it plans to use.
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You bought a tokenized stock. What next? Many people just hold it but about $250M of tokenized stocks are already doing more work in DeFi. Here's where each one works 🥇 @xStocksFi: $110.7M in DeFi The most useful stock token onchain right now. 
- Swap and LP on @Raydium, @Uniswap, @orca_so and @MeteoraAG. 
- Borrow against it on @kamino and @JupiterExchange lend. 
- Loop it with Kamino or Jupiter Multiply 
- Earn on @pendle_fi or @krakenfx's xStocks vaults (~2%, paid in the stock). 🥈 @RobinhoodApp: $74.9M 
Almost all of it sits in Uniswap pools on Robinhood chain. - Borrow on @Morpho 
- Trade NVDA and PFE dividends on @pendle_fi 🥉 Binance bStocks (@bstocksfinance): $37.8M 
- @PancakeSwap pools ($35.6M) 
- Borrow stablecoins against TSLAB, NVDAB and SPCXB on @VenusProtocol 4️⃣ @coinbase: $22.5M 
- @aeroxyz pools 
- Borrow on @aave 5️⃣ @Ondo : $3.3M 
The only stock you can use as perps margin. - SPYon and QQQon available on @OndoPerps. 6️⃣ @DinariGlobal: Uniswap pools only.
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stein retweeted
gm RWAers. ICYMI, here are some of the biggest moves that happened onchain last week across all tokenized assets. - Tokenized stocks grew from $3.80B to $3.99B in five days, adding $192M. - Stock tokens traded $3.0B on DEXs, up 22% week over week. - 109K new holders joined, taking the total to 5.25M. - @bstocksfinance led all issuers with $1.01B in volume, up 78%. - @BNBCHAIN was the top chain at $1.07B, adding $234M in stock value. - @Uniswap was the busiest venue at $778M, while @metricxyz grew fastest (+173%). - NVIDIA on bStocks was the most traded stock token at $266M, up 290%. - Apple on bStocks saw the biggest jump, up 812% to $132M. - SpaceX on bStocks was the biggest gainer, adding $51M in market cap. - @Ondo's trading volume fell 45% while Coinbase's rose 34%. - Tokenized funds dipped $557M to $34.6B. - @Spiko_finance's Amundi fund pulled the biggest inflow at +$67M. - @WisdomTreeFunds's WTGXX saw $167M in outflows. - @tethergold was the most traded commodity token at $66.9M. - Silver (SLVx) and oil (USOon) tokens grew 25% and 16%.
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stein retweeted
Where can I earn yield on RWAs? Here are 15 ways to earn on tokenized assets, from the boring to the wild ones. - Cash-like income: tokenized T-bills pay ~3.6–4.2%, close to the real 3-month T-bill (4.23%). - Credit and structured yield: private credit 5–19%, reinsurance ~11%, fixed ~5% on Pendle. - DeFi strategies: lend against RWAs, loop stock tokens, earn LP fees. 
- Stocks and real assets: dividends, rent, gold that earns, solar and AI revenue. 
- Speculative: points and airdrops Share it with your friend whose USDC is sleeping.
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Where can I earn yield on RWAs? Here are 15 ways to earn on tokenized assets, from the boring to the wild ones. - Cash-like income: tokenized T-bills pay ~3.6–4.2%, close to the real 3-month T-bill (4.23%). - Credit and structured yield: private credit 5–19%, reinsurance ~11%, fixed ~5% on Pendle. - DeFi strategies: lend against RWAs, loop stock tokens, earn LP fees. 
- Stocks and real assets: dividends, rent, gold that earns, solar and AI revenue. 
- Speculative: points and airdrops Share it with your friend whose USDC is sleeping.
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