Real-world asset (RWA)
Also called RWA
A real-world asset is a traditional financial or physical asset, such as a treasury bill, loan, share or bar of gold, that is represented by a token on a blockchain.
In crypto, “RWA” refers to tokens whose value comes from something outside the blockchain. The largest groups are tokenized treasuries, private credit and tokenized gold. RWA totals usually exclude fiat stablecoins.