Talk about making a boss move. Polygon has bulldozed its way to the front of the tokenized real-world assets party, locking in over $1.13 billion in assets on its network, and the crowd just keeps getting bigger.
According to a new Dune report and data hounds at RWA.xyz, Polygon is dominating the game.
Institutional players are flocking in
As of September 2025, Polygon holds $1.13 billion in TVL across 269 real-world assets with nearly 3,000 holders.
That’s a 224% ramp-up since early 2024, fueled initially by tokenized U.S. Treasuries but now charging into beefier territory, private credit, bonds, and other yield-hungry investments.
How’s it stacking up against the giants? Polygon commands 62% of the global tokenized bond market, leaving Ethereum, its closest rival, trailing in the dust at just 5%.
On top of that, it’s grabbed a juicy 29% slice of tokenized U.S. T-Bills thanks to Spiko’s USTBL token.
Sandeep Nailwal , the big boss at Polygon Foundation, boasts that these figures keep climbing as institutional players flock in.
XTokenized securities
What’s driving this rocket? Polygon’s recent technical upgrade, dubbed “Rio”, and its seamless blend with DeFi protocols make tokenized assets downright programmable.
Picture bonds and credits turning into slick, automated, on-chain financial gadgets. Sounds good.
But Polygon’s growth also speaks to a bigger picture, traditional finance’s slow but steady march onto the blockchain.
Nasdaq and other big fish are testing the waters with tokenized securities, turning pilots into real-world money machines.
Confidence in the ecosystem
A little caution emojis here, though. The regulatory seas around tokenized RWAs still have waves to calm.
Ethereum and Solana aren’t sitting still, they’re chasing Polygon’s lead, so dominance remains a moving target.
But in reality, what does it mean? For Polygon, this commanding grip on the RWA market likely amps up confidence in its ecosystem, opening doors for more institutional dollars to flood in and support growth.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
