The RWA market has huge potential, and Aptos occupies a favorable position.

Real-world asset tokenization (RWA), as a field attracting significant market attention, has yet to fully demonstrate its potential to connect traditional markets' trillion-dollar assets. Data shows that the total market value of RWA assets in the crypto industry is only $24 billion, which, although it grew by 56% in the first half of this year, remains relatively small compared to the scale of traditional markets. This indicates that the development of RWA is still in its early stages, and as more types of assets are tokenized in the future, RWA is expected to enter a new stage of development.

During this critical period, Aptos has shown strong momentum. In the past 30 days, the total value locked (TVL) of RWA on the Aptos chain has increased by 56.4%, reaching $538 million, and it has risen to third place in the public chain rankings. With more DeFi projects joining, the RWA assets in the Aptos ecosystem may welcome more investment opportunities, positioning it favorably in the future RWA competition.

Private Credit: The Dominant Force of RWA Assets

Private credit currently accounts for 58% of RWA assets, becoming the most关注的 asset class, followed by U.S. Treasury bonds. Private credit assets mainly exist in on-chain form and typically have lower liquidity; meanwhile, U.S. Treasury bonds face competition from interest-bearing stablecoins, which offer similar yield characteristics.

Private credit refers to loans provided by non-bank institutions or investors to enterprises or individuals in the private market. In traditional finance, private credit has attracted a large number of institutional investors due to its flexibility and high returns, but it also faces issues such as high costs, low efficiency, and high entry barriers.

The crypto protocol addresses some pain points of traditional private lending by issuing and managing assets on-chain, reducing intermediaries, lowering costs, and improving the transparency of loan pools and underlying asset performance.

Private Credit Asset Tokenization Process

1. Off-chain credit asset generation: The asset issuer is responsible for generating off-chain credit assets, including signing loan agreements, setting up collateral assets, and formulating repayment plans.

2. Build the on-chain token structure: Map loans to on-chain tokens through the RWA protocol, which can be NFTs, SFTs, or ERC-20 tokens.

3. Compliance Packaging: Establish special purpose entities or virtual asset service providers as legal custodians to ensure compliance with regulatory requirements.

4. Token Issuance and Financing: Showcase tokens through the platform and accept on-chain investments. Investors can participate in investments after completing KYC verification.

5. Profit distribution and asset settlement: After the borrower repays, the funds are distributed to the token holders through smart contracts.

Aptos's Competitive Advantages in the RWA Space

Technical Advantages

Aptos, as a new generation public chain, has the following technical characteristics:

• High throughput and low latency: Theoretical throughput can reach 150,000 TPS, with actual stability at 4,000-5,000 TPS.
• Low transaction costs: Average transaction fees are below $0.01.
• Modular architecture: Allows for independent optimization of each layer, suitable for complex RWA asset management.

ecological layout

Aptos has enhanced its competitiveness in the RWA sector by collaborating with traditional financial institutions and expanding the DeFi ecosystem:

• Collaborate with various traditional financial institutions to introduce various types of RWA assets.
• Focus on regulatory friendliness, with built-in on-chain identity verification and asset tracking functions.
• Focus on emerging markets, especially in areas with insufficient financial inclusion.

The Development Prospects of RWA in Aptos

Aptos's rapid development in the RWA sector is attributed to its technological advantages and ecological layout. By June 2025, its RWA TVL reached $538 million, primarily driven by private credit. The on-chain debt pool launched by the Pact protocol on Aptos contributed over $420 million in assets.

Private credit, as an RWA growth engine, achieves on-chain composability through tokenization, allowing credit tokens to participate in DeFi protocol's revolving loans, leverage strategies, and liquidity pools, generating annualized returns of 6%-15%. Aptos's low transaction fees and fast confirmation times support real-time lending and settlement, and future integration with more DeFi projects may further activate its potential.

As the interest rate spreads in traditional financial markets tighten, institutional investors are gradually turning to on-chain solutions. Aptos is filling the financing gap for small and medium-sized enterprises by servicing emerging markets. It is expected that by 2026, Aptos will add $500 million in RWA TVL. Through the synergy of technology and ecology, Aptos demonstrates sustained growth potential in the private credit sector and is likely to occupy an important position in the RWA market.