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Cardano's RealFi launch highlights growth of tokenized assets across networks

Cardano's new stablecoin lending protocol seeks to expand credit activity following rapid growth in tokenized Treasuries on the XRP Ledger.

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RealFi debuted on Cardano on October 1, 2026, offering annual returns of up to 9 percent by deploying stablecoins into institutional debt and trade financing. Through its USDrf and yield-bearing sUSDrf tokens, the service draws returns from assets including money market instruments, corporate bonds, Treasuries, and loans to fintech lenders in Uganda and Kenya.

The model follows substantial expansion on the XRP Ledger, where tokenised U.S. Treasuries rose roughly eightfold year-on-year to near $418 million through April 2026. In contrast, Cardano currently holds about $70 million in stablecoins, while its total value locked in decentralised finance has dropped by more than 50 percent since May to approximately $67 million. Ethereum continues to account for the largest share of tokenised credit and stablecoin volume.

Supported by Input Output and personal funding from Cardano founder Charles Hoskinson, RealFi faces operational constraints, including being unavailable to users in the United States, the European Union, and the United Kingdom. In addition, sUSDrf holders absorb first-loss risk if borrowers default and are subject to a seven-day redemption period, while ADA traded near $0.25 on October 3 following a 4 percent daily drop.

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