Real-world assets
Tokenized Treasuries
Tokenized treasuries are blockchain tokens that represent ownership of U.S. Treasury bills or money-market funds, backed 1:1 by the real securities held with a regulated custodian. They bring low-risk government-bond yield on-chain with 24/7 settlement, and are one of the fastest-growing real-world-asset categories in crypto.
Also: tokenized treasuries · tokenized T-bills · on-chain T-bills
Tokenized treasuries put short-term U.S. government debt on-chain. An issuer holds the real T-bills with a custodian, a smart contract mints tokens against them, and an oracle updates the net asset value — so holders earn Treasury yield while the token moves freely on-chain.
They are a form of real-world asset (RWA) and a cousin of on-chain fixed income: both offer predictable yield, but tokenized treasuries derive it off-chain from government bonds, while Spield derives it on-chain from Stellar lending.
Educational content, not financial advice. Spield is deployed on Stellar testnet and has not been audited; any figure shown in these guides is a worked example chosen to explain a mechanism, never a quote or a live reading.