MMF Avg Index9.17%▲ 27 funds•MMF Leaders10.97%▲ Top yield•EGP/USD54.07▲ Spot rate•USD/KES129.97▲ Spot rate•NGN/USD1,349.07▲ Spot rate•ZAR/USD16.41▲ Spot rate•BTC/USD$73,740▼ -1.32%•SOL/USD$84.08▼ -3.11%•ETH/USD$2,065.83▼ -2.82%•BTC/KESKSh 9.6M▼ -1.32%•USDT Peg$1.00▲ 0.09%•USDC Peg$1.00▲ 0.10%•Best FD (12M)up to 9.50%▲ Consolidated Bank of Kenya•Top UT Yield17.08%▲ Mayfair Fixed Income•CBK Rate8.75%▲ Policy rate•Inflation (YoY)7.3%▼ CPI•MMF Avg Index9.17%▲ 27 funds•MMF Leaders10.97%▲ Top yield•EGP/USD54.07▲ Spot rate•USD/KES129.97▲ Spot rate•NGN/USD1,349.07▲ Spot rate•ZAR/USD16.41▲ Spot rate•BTC/USD$73,740▼ -1.32%•SOL/USD$84.08▼ -3.11%•ETH/USD$2,065.83▼ -2.82%•BTC/KESKSh 9.6M▼ -1.32%•USDT Peg$1.00▲ 0.09%•USDC Peg$1.00▲ 0.10%•Best FD (12M)up to 9.50%▲ Consolidated Bank of Kenya•Top UT Yield17.08%▲ Mayfair Fixed Income•CBK Rate8.75%▲ Policy rate•Inflation (YoY)7.3%▼ CPI•

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Investor Guide

Tokenized Assets — What They Are and How They Work

Understand what tokenized assets are, how they work, which assets can be tokenized, how to invest in them, the risks involved, and how they differ from cryptocurrency.

8 min readSerrari Compliance & Strategy

Tokenized assets are traditional assets that are represented digitally on a blockchain using cryptographic tokens. Tokenization changes how an asset is owned, transferred and managed, not necessarily what the asset is.

What Are Tokenized Assets?

Tokenized assets are traditional assets that are represented digitally on a blockchain using cryptographic tokens.

Think of a token as a digital certificate of ownership or entitlement. Instead of receiving a paper certificate or relying solely on a traditional financial database, your ownership or investment is recorded on a blockchain.

The underlying asset still exists in the real world—it could be cash, a Treasury bill, a bond, gold, real estate or even carbon credits. Tokenization simply creates a digital representation that can be transferred, tracked and, in many cases, traded more efficiently.

For example, imagine a commercial building worth US$10 million. Rather than requiring one investor to buy the entire building, the property can be divided into one million digital tokens, each representing a small ownership interest. Investors can then purchase only the number of tokens they want, making investing more accessible.

The same concept can apply to government bonds, money market funds, stocks and other financial assets.

Key takeaway: Tokenization changes how an asset is owned, transferred and managed, not necessarily what the asset is.

How Do Tokenized Assets Work?

The process typically follows these steps:

Step 1: A Real Asset Exists

An issuer owns or creates an asset such as:

Treasury Bills
Government Bonds
Money Market Funds
Gold
Real Estate
Corporate Bonds
Carbon Credits
Private Credit

Step 2: The Asset Is Tokenized

A regulated institution or issuer creates digital tokens on a blockchain.

Each token represents a specific interest in the underlying asset.

For example:

US Treasury Fund worth $100 million

↓

100 million digital tokens

↓

Each token represents $1 of the fund.

Step 3: Investors Purchase the Tokens

Investors buy tokens through a supported platform or marketplace.

Depending on the issuer, investors may need to:

Complete identity verification (KYC)
Meet minimum investment requirements
Use supported payment methods

Step 4: Ownership Is Recorded on the Blockchain

Instead of a traditional registry alone, ownership is recorded digitally on a blockchain.

This allows transactions to be:

Faster
More transparent
Easier to audit
Available 24/7 in some cases

Step 5: Investors Receive Returns

Returns depend on the underlying asset.

Returns by Underlying Asset

Examples include:

Asset	Potential Return
Treasury Bills	Interest income
Money Market Funds	Daily yield
Real Estate	Rental income and capital appreciation
Gold	Price appreciation
Corporate Bonds	Coupon payments
Stocks	Dividends and share price growth
Carbon Credits	Potential price appreciation

What Types of Assets Can Be Tokenized?

Almost any asset with measurable value can potentially be tokenized.

Common examples include:

Asset Type	Example
Government Securities	U.S. Treasury Bills
Money Market Funds	Franklin Templeton BENJI Fund
Stocks	Tokenized shares (where legally permitted)
Corporate Bonds	Tokenized bond issuances
Real Estate	Commercial buildings
Gold	Gold-backed tokens
Private Credit	Institutional lending portfolios
Carbon Credits	Verified carbon offsets
Collectibles	Art and luxury watches

Why Are Tokenized Assets Becoming Popular?

Tokenization offers several potential advantages.

1Fractional Ownership

Instead of needing $100,000 to invest, investors may be able to invest much smaller amounts.

1Faster Settlement

Traditional securities can take one or more business days to settle. Many tokenized assets settle much faster.

1Greater Accessibility

Investors from different countries may be able to access investments that were previously available only to institutions, subject to local laws and platform eligibility.

1Increased Transparency

Blockchain records provide a transparent history of token transfers.

1Automation

Smart contracts can automate:

Interest payments
Dividend distributions
Coupon payments
Redemptions

How Do I Invest in Tokenized Assets?

The exact process varies by issuer, but it generally involves the following steps:

Step 1

Choose a regulated platform offering tokenized assets.

Examples include:

Franklin Templeton (BENJI)
Ondo Finance
Securitize
Backed Finance
Superstate

Availability depends on your country and the product.

Step 2

Create an account.

Step 3

Complete Know Your Customer (KYC) verification if required.

Step 4

Fund your account using supported payment methods.

Depending on the platform, this may include:

Bank transfer
Stablecoins
Cryptocurrency
Debit or credit card

Step 5

Select the tokenized asset.

Examples:

Tokenized Treasury Fund
Tokenized Money Market Fund
Tokenized Gold
Tokenized Real Estate

Step 6

Purchase the desired number of tokens.

Step 7

Monitor your investment through the platform.

What Are the Risks?

Although tokenized assets can offer benefits, they also involve risks.

1Market Risk

The underlying asset may lose value.

1Issuer Risk

Some tokenized assets rely on the issuer to manage the underlying assets properly.

1Liquidity Risk

Some tokenized assets may be difficult to sell quickly.

1Regulatory Risk

Rules governing tokenized assets continue to evolve in many countries.

1Smart Contract Risk

Software bugs or security vulnerabilities could affect blockchain-based systems.

1Custody Risk

Some assets rely on third parties to safeguard the underlying investments.

Tokenized Assets vs Cryptocurrency

These terms are often confused.

Tokenized Assets	Cryptocurrencies
Represent real-world assets	Native digital assets
Usually backed by an underlying asset	Often not backed by physical assets
May generate interest, rent or dividends	Returns generally depend on market price
Examples: tokenized Treasuries, tokenized real estate	Examples: Bitcoin, Ether

Frequently Asked Questions

Are tokenized assets legal?

They are legal in many jurisdictions, but regulations vary by country. Investors should confirm whether a particular product is available and compliant in their jurisdiction.

Do I actually own the underlying asset?

It depends on the product's legal structure. Some tokens provide a direct ownership interest, while others represent a claim against the issuer or a fund. Always review the issuer's offering documents.

Can I sell tokenized assets?

Many tokenized assets can be redeemed with the issuer or traded on supported marketplaces, although liquidity and transfer restrictions vary by product.

Are tokenized assets safe?

Like any investment, they carry risks. Safety depends on the quality of the underlying asset, the issuer, the legal structure, custody arrangements and the technology used.

Can beginners invest?

Yes, although some products are limited to accredited or institutional investors, and availability differs by jurisdiction.

Are tokenized assets the same as NFTs?

No. NFTs are generally unique digital tokens, whereas tokenized assets usually represent divisible ownership or economic interests in financial or real-world assets.

Do tokenized assets pay income?

Some do. For example, tokenized Treasury funds and money market funds may distribute interest or yield, while tokenized real estate may distribute rental income. Others, such as tokenized gold, generally do not generate income.

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Disclaimer:Content and publications across our platforms are provided for informational purposes only and do not constitute personalized investment advise.Read full disclaimer

Serrari acts as an independent financial advisor authorised by its partner network of investment banks and asset managers to act on their behalf, and is a digital publisher accredited by the Media Council of Kenya.

Serrari does not process, hold or manage any customer funds.

As a digital publisher and an independent financial advisor, Serrari provides research, information, recommendations and investment facilitation to support informed choices as the number one investments decision intelligence platform. The reader and or customer retains sole discretion and final responsibility for approving investment decisions and issuing transaction instructions, having considered their financial objectives, risk tolerance, liquidity needs and the relevant provider’s terms, fees and risk disclosures. The customer accepts the investment risks associated with their approved decisions, including the potential loss of capital. Serrari does not guarantee investment returns or capital preservation, and past performance is not a guaranteed indicator of future results.

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Serrari Tokenized Real-World Assets Index

On-chain tokenized asset value across 12 categories · Source: redis · As of 2026-11-08

Total Tokenized Value

$39.61B

Categories Tracked

Top Category

US Treasury Debt

Top Category Share

35.6%

▲ Private Equity +25.9% MoM▼ Municipal Credit -82.0% MoM

Tokenized Value by Asset Category ($B)

Category Share of Total Tokenized Value

Total Tokenized RWA Value Over Time ($B)

Month-end on-chain tokenized value across all categories.

Tokenized Asset Categories — Full Breakdown

#
1	US Treasury Debt	$14.11B	35.63%	-0.66%
2	Commodities	$5.33B	13.45%	+5.27%
3	Active Strategies	$4.72B	11.93%	+2.30%
4	Stocks	$3.73B	9.42%	+4.34%
5	Asset-Backed Credit	$3.07B	7.75%	-2.14%
6	Specialty Finance	$2.65B	6.68%	-2.34%
7	Corporate Credit	$1.69B	4.26%	-0.16%
8	Private Equity	$1.54B	3.90%	+25.89%
9	Venture Capital	$1.01B	2.54%	-0.07%
10	Diversified Credit	$796.1M	2.01%	+0.37%
11	non-US Government Debt	$750.0M	1.89%	-3.94%
12	Real Estate	$213.3M	0.54%	-5.22%
13	Municipal Credit	$5	0.00%	-82.01%

Source: redis. Month-end tokenized (bridged) value in USD. As of 2026-11-08.

Frequently Asked Questions

Tokenized real-world assets are traditional assets — such as US Treasuries, commodities, real estate, private credit and equities — issued and traded on-chain as blockchain tokens. Tokenization aims to make these assets more accessible, divisible and transferable.

It is the total US-dollar value of tokenized assets bridged on-chain, tracked across 12 asset categories. The figures are month-end snapshots aggregated from RWA.xyz.

Tokenized US Treasury Debt is by far the largest category, reflecting strong demand for on-chain access to short-dated government debt. Commodities and asset-backed credit follow.

The dashboard shows a month-end series derived from the underlying daily data. The headline figures reflect the latest available snapshot, shown in the "As of" date.

Content and publications across our platforms are provided for informational purposes only and do not constitute personalized investment advise. Tokenized assets carry risk.

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