The adoption of tokenized real-world assets (RWAs) is accelerating across multiple blockchain platforms, driven by major financial institutions and blockchain projects. BlackRock has integrated its nearly $3 billion BUIDL fund directly with the decentralized finance (DeFi) protocol Euler on the Avalanche (AVAX) network, enabling the sBUIDL token to be used as collateral with a loan-to-value ratio of 92.5%. This fund is part of a broader $45 million worth of RWAs tokenized on Solana through Securitize, which also manages the BUIDL money market fund and the ACRED private credit fund by Apollo. Ethereum remains the leading platform for RWA tokenization, with over 95% of BlackRock’s BUIDL fund tokenized on Ethereum and its Layer 2 solutions. Avalanche has seen a surge in activity, reaching an all-time high of over 2 million daily active addresses in May, partly attributed to the launch of blockchain games like MapleStory Universe, which is bringing millions of users into Web3. Other entities such as Thailand, VanEck, Goldman Sachs, Aave, and Synthetix are also actively involved in the on-chain asset movement. The development highlights a trend where tokenization extends beyond stablecoins to include equities, bonds, funds, and private credit, aiming to bridge traditional finance with blockchain infrastructure and improve liquidity and efficiency in asset management.