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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/surge-in-tokenized-us-treasuries-market-growth/" data-wpel-link="internal">Surge in Tokenized US Treasuries Market Growth</a> 
According to crypto asset data tracker CoinGecko, the United States witnessed a 641% growth in tokenized treasuries in 2023, with the participation of traditional finance companies. On March 21, CoinGecko published its 2024 report titled The Rise of Real World Assets in <a href="https://en.coin-turk.com/elon-musk-puts-an-end-to-crypto-currency-controversies-we-will-never-do-it/" data-wpel-link="internal">Crypto</a>, highlighting the progress in the tokenization process of real-world assets (RWA). 
<h2 class="p1" style="text-align: justify" id="us-and-rwa-market">US and RWA Market</h2> 
CoinGecko reported that the value of tokenized treasuries increased from $114 million in January 2023 to $845 million by the end of the year. This indicates a 641% growth in blockchain-based crypto tokens representing US Treasury securities within a year. 
Tokenized securities stand out as crypto tokens backed by RWAs such as stocks and bonds. For example, the Ondo Short-Term US Government Bond Fund uses the OUSG token to represent ownership and yield of a share in the fund. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-331286 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/coingecko.jpg" alt="" width="1517" height="706"> 
CoinGecko highlighted that asset management firm Franklin Templeton is currently the largest issuer of tokenized treasuries. The company issued tokens worth $332 million with its On-Chain U.S. Government Money Fund, controlling 38.6% of the market. 
Franklin Templeton was one of the ten exchange-traded fund (ETF) issuers that launched a spot <a href="https://en.coin-turk.com/bitcoin-price-prediction-what-to-expect-in-october-2023/" data-wpel-link="internal">Bitcoin</a> ETF fund in the US in January. It also applied to the US Securities and Exchange Commission (SEC) on February 12 for a Franklin Ethereum ETF fund, entering the race to launch an Ethereum ETF fund. 
In addition to Franklin Templeton, other protocols including yield-bearing stablecoin projects backed by US Treasury bills are gaining popularity. The CoinGecko report emphasized that Mountain Protocol’s USDM tokens rose from $26,000 to $154 million since their launch in September 2023. 
<h2 class="p1" style="text-align: justify" id="notable-data-on-the-industry">Notable Data on the Industry</h2> 
Tokenized US treasuries are mostly based on the Ethereum network. The report by CoinGecko noted that 57.5% of the tokens were on Ethereum. Meanwhile, companies like Franklin Templeton and WisdomTree Prime issued tokenized securities on <a href="https://en.coin-turk.com/xrps-competing-altcoin-on-a-roll-initial-74-surge-followed-by-20-rise/" data-wpel-link="internal">Stellar</a>, contributing 39% to the network’s market. 
While tokenized treasury bonds gained momentum in 2023, growth slowed down in 2024. In January 2024, tokenized treasury bonds grew by only 1.9%. As of February 1, their market value was recorded at $861 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-331285 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/cg-veri.jpg" alt="" width="967" height="756"> 
CoinGecko also emphasized that in addition to tokenized treasuries, commodity-backed tokens reached a market value of $1.1 billion as of February 1. Tether Gold (XAUT) and PAX Gold (PAXG) hold 83% of the market value for tokenized precious metals. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/surge-in-tokenized-us-treasuries-market-growth/" data-wpel-link="internal">Surge in Tokenized US Treasuries Market Growth</a></h5>

Surge in Tokenized US Treasuries Market Growth

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