A rate cycle did more for tokenization than a decade of protocol development.
Here's the framework we use to think about what comes next 👇 https://t.co/UCQ8p2qeV5
💰Tokenized Treasuries proved RWA can live on-chain. Private credit is where it's being decided whether they belong there.
We broke down why the bigger half of the RWA market stays invisible https://t.co/rzFGlIkNI2
Private Credit
A form of non-bank lending where specialized investment funds provide financing directly to businesses.
Why it matters:
• $1.7T+ market
• Institutional capital at scale
• Higher income potential than many public fixed-income markets
Tokenized private credit is not just an access problem.
The real question starts after capital is deployed:
who monitors the loans, how realistic is the NAV, and where does liquidity come from if investors want to exit early?