RWA Track Accelerates into the Mainstream: A Comprehensive Analysis of Seven Emerging Projects

With the entry of traditional financial giants into the market and the increasingly clear policy and regulatory environment, the ( track of RWA) real world assets is rapidly entering the mainstream vision. What was once limited to the exploration of small circles of assets on the chain has now become the forefront of compliance innovation. Recently, a new wave of combining “compliance and imagination” has quietly emerged on the chain, and a number of projects with RWA labels have gained wide attention in the market.

This article takes stock of seven new on-chain forces that have recently been active under the RWA narrative, which are distributed in different ecosystems such as Base, BNB Chain, and Solana, and most of the projects are developing in an all-round way in multiple dimensions such as application implementation, compliance practices, and ecological linkage, while maintaining the attractiveness of the narrative while focusing on the construction of realistic application scenarios.

! List of seven rookie RWA projects on the chain: KTA has a market capitalization of up to over $900 million, and the on-chain capital market has become a hot spot

Keeta (KTA)

Keeta is a Layer1 blockchain network built on the Base network, committed to connecting the global financial system, with built-in KYC real-name authentication, digital identity, on-chain foreign exchange (FX) mechanism, and flexible rules engine. Officially, this is the first blockchain network that can truly support compliant financial transactions on a global scale. Keeta received a $17 million grant from former Google CEO Eric Schmidt when the project was valued at $75 million. Its CEO, Ty Schenk, was previously a partner at steel perlot and a director and CEO of LFG Payments.

According to the data, as of May 26, the market value of KTA has recently exceeded 910 million US dollars, and the number of coin holding addresses has exceeded 73,000, ranking the highest market value among all RWA-related projects.

BUILDon (B)

BUILDon is a popular MEME coin deployed on the BNB Chain, and it is also the main trading medium for the Trump family’s endorsed stablecoin USD1. According to data, as of June 26, the market capitalization of $B once exceeded $460 million, setting a historical high, with the number of holding addresses surpassing 25,000.

Latest data indicates that as of May 26, up to 98.88% of the USD1 issuance is concentrated on the BNB Chain. In the past 24 hours, the trading volume of the B/USD1 trading pair exceeded $190 million, accounting for as much as 69.06%, highlighting the core position of $B in the USD1 ecosystem.

$B has gained support from a major trading platform and has successively launched the Alpha platform and contract trading section on that platform. At the same time, the trading platform announced that users withdrawing USD1 through the BNB Chain will enjoy a zero-fee policy, which will further stimulate the trading activity of USD1 ecosystem projects, including $B. It is worth noting that the Trump family’s cryptocurrency project WLFI has recently ventured into MEME coin investment for the first time, officially purchasing $B.

In terms of policy, the GENIUS stablecoin bill in the United States has recently passed the Senate vote, and only needs to be finalized by the House of Representatives and the president. Once passed, the bill will lay the foundation for compliance in the stablecoin market. According to the financial institution report, the market capitalization of stablecoins will reach $1.6 trillion by 2030 under the baseline scenario and $3.7 trillion under the optimistic scenario. If the regulatory framework is in place, stablecoin issuers are expected to become one of the largest holders of U.S. Treasuries. This provides a broader imagination for the development prospects of emerging US dollar stablecoins such as USD1 and their trading medium $B.

ALLO (RWA)

ALLO aims to build the world’s first tokenized stock exchange, providing round-the-clock trading, ultra-low fees and instant settlement services, and has been supported by NGC Ventures, Morningstar Ventures and other institutions. According to official disclosures, ALLO has tokenized $2.2 billion in RWA, pledged $50 million in Bitcoin, and launched a $100 million lending pool. Last year, ALLO was selected for the BNB Chain MVB8 acceleration program, and its token $RWA was recently listed on the alpha section of a trading platform.

According to the data, as of May 26, the market value of $RWA has recently exceeded 200 million US dollars, and the number of coin-holding addresses has exceeded 12,000.

Collaterize (COLLAT)

Collaterize is building an internet capital market based on the Solana network, dedicated to creating the largest RWA asset pool in the market, enabling access, trading, and management of tokenized assets. The $COLLAT token aims to bring more individuals into the RWA tokenization process, allowing users to easily access various on-chain real assets. The project co-founder Pierre has previously worked at Microsoft and IOTA. Recently, Collaterize has received public support from Solana officials and co-founder Toly multiple times.

According to the data, as of May 26, the market value of $COLLAT has risen sharply since May, with a maximum of more than $91 million, and the number of coin-holding addresses has exceeded 13,000.

Paraverse (PVS)

Paraverse’s portfolio includes ParaLab, a decentralized cloud rendering for XR and 3D assets, and ParaHere, a Web3 trading platform, whose utility token PVS is a core tool for payments, rewards, and governance within the ecosystem. Users can access high-performance cloud rendering services and earn staking rewards by holding PVS, and the token was officially listed on Solana in March this year. According to official disclosures, Paraverse has attracted more than 1,000 enterprise partners and more than 10,000 independent developers around the world since 2016, with application scenarios covering digital twins, education and training, medical rehabilitation, and virtual live broadcasts.

According to the data, as of May 26, the market value of PVS has exceeded $18 million, and the number of coin-holding addresses has exceeded 7,600.

GitFish (Linux)

GitFish is an innovative Solana-based platform that aims to tokenize and trade the open-source codebase on GitHub, allowing users to convert the GitHub codebase into tradable tokens, and the owner of the codebase can earn a certain fee ( such as swap fees ) through trading. GitFish is incubated by Alliance DAO and is supported by social media from organizations such as Solana, Raydium, and Helius. The platform’s first project, the $Linux presale, ended in three days, attracting about $7.5 million in funding. It’s worth noting, though, that Linus Torvald, the father of Linux, recently made it clear that he is not involved in any of GitFish’s activities.

According to the data, as of May 27, $Linux has fallen all the way after the opening, and the current market value is about $10 million, almost halved from the private placement price of $2.3.

Convergent (CVGT)

According to the official introduction, Convergent is an LSDFi protocol built on Solana, powered by Jito and Pyth Network. The protocol allows users to mint the stablecoin USV by overcollateralizing SOL with an interest rate of 0%. The protocol will stake users’ staked SOL to Jito, so that users can continue to receive staking rewards and rewards in the background while holding $USV. The minted $USV can be used to participate in various DeFi applications in the Solana ecosystem. $CVGT as Convergent’s governance token, holders can earn protocol revenue, vote on protocol parameters ( such as emissions, fees, and collateral ratio ). Convergent claims that there were no presales, VC rounds, and seed unlocks.

As of May 26, data shows that the market value of CVGT recently peaked at over 7 million USD, with the number of holding addresses exceeding 2,500.

Through the analysis of these seven emerging RWA projects, we can see that RWA projects in different ecosystems are exploring the possibilities of on-chain assets in their own unique ways, innovating across multiple dimensions such as financial compliance, tokenized exchanges, and asset pool management. As the regulatory environment becomes clearer, this field is expected to welcome broader development space and application scenarios.