finance

Tokenized treasury funds, which are blockchain-based representations of U.S. Treasury bills, reached a $2 billion market cap on Saturday, according to RWA.xyz. These funds, which provide yields similar to traditional treasuries but allow for faster trading on the blockchain, have seen rapid growth since their emergence in 2023, surpassing the $1 billion mark in April 2024 and doubling in size over the past five months. Although still a small fraction of the $27 trillion bond market, the tokenized treasuries sector is expanding, with Ethereum and Stellar currently dominating the space. Additionally, Centrifuge, a crypto startup, is launching a new on-chain lending market on the Base blockchain, allowing institutional clients to use tokenized treasuries as collateral without selling the tokens