#defi

On-chain T-bill funds paid a 3.24% 7-day APY in mid-July 2026 while the average US savings account paid 0.61%. The market crossed $15.5 billion, and BlackRock, Franklin Templeton, and Circle are all in. Here is what it actually is, and where the catch hides.

Ninety percent of RWA talk is nonsense about tokenized real estate and fine wine that goes nowhere. Here are the four cases where the economics genuinely work: Treasuries, private credit, gold, and stablecoins. That's roughly $34 billion on-chain and climbing.