[On-Chain RWA Scale Surpasses $25 Billion, Nearly Quadrupling in the Past Year] March 8, according to CoinDesk, data from RWA.xyz shows that the on-chain RWA scale, excluding stablecoins, has surpassed $25 billion, nearly quadrupling from approximately $6.4 billion a year ago. Six asset categories, including U.S. Treasury bonds and commodities, each exceed $1 billion. Institutions such as BlackRock and Fidelity have launched tokenized fund products, with tokenized U.S. Treasury products increasing to over 50. On-chain transfers indicate that RWA transactions are mostly concentrated around $10 million per transaction. A Brickken survey reveals that 53.8% of issuers prioritize financing efficiency, while 15.4% focus on liquidity. Nexus Data Labs estimates that of the approximately $8.49 billion in RWA supporting stablecoins, only 11.8% is deployed in DeFi protocols, with the remainder excluded from the on-chain system due to compliance requirements.