Real-world assets on Solana

Real-world assets (RWAs) are traditional assets represented as tokens: treasuries, stocks, credit, insurance. Solana has become one of the main homes for them, holding about 84% of tokenized equity supply by mid-2026.

Tokenized treasuries and dollars

Funds like BlackRock's BUIDL and Ondo's USDY tokenize short-term US government debt. They pay roughly the T-bill rate and often back stablecoins (JupUSD's reserves sit mostly in USDtb, which is backed by BUIDL). Many require KYC to mint directly; others trade freely onchain.

Tokenized stocks

xStocks, issued by Swiss firm Backed Finance, are tokens backed one-to-one by real shares: SPYx, QQQx, NVDAx and 800+ more. They trade 24/7 on Jupiter and Raydium, show up in Phantom and Solflare, and work as collateral in Kamino's xStocks markets. They're for non-US users. Backpack Securities and Securitize also issue tokenized stocks on Solana.

Reinsurance and payment credit

• OnRe is a licensed reinsurer in Bermuda. Its ONyc token represents a share of a reinsurance account and earns premiums, recently around 12 to 14% a year. It isn't a stablecoin: its price follows net asset value and can fall if catastrophes trigger claims.
• Huma finances short-term payment settlement for businesses. Deposit USDC, receive PST, which earns the fees those businesses pay.

• xStocksTokenized US stocks and ETFs
• OnReReinsurance-backed onchain yield
• HumaPayFi yield from real payments
• KaminoSolana's largest lending market

Why RWA yields can be real

Unlike token incentives, RWA yields come from economic activity outside crypto: governments paying interest, companies paying for credit, insurers paying premiums. That makes them attractive and less tied to crypto cycles.

The risks live off-chain

• Issuer and custody. You rely on the issuer actually holding the asset and honoring redemptions.
• Legal structure. What you own may be a claim on a company or account, not the asset itself. Bankruptcy or regulation can change outcomes.
• Access rules. Many products exclude US persons or require KYC; breaking those rules can freeze your tokens.
• Liquidity and hours. Tokenized stocks trade 24/7 but the underlying market closes; weekend prices can gap.
• Oracle and collateral risk when you borrow against RWAs.