Welcome to RWAfi Research – Navigating the Real-World Asset Frontier
Independent research on real-world asset tokenization, regulation and market structure for investors and builders who care about real yield.
Real-world assets are finally moving on-chain.
Bonds, credit, treasuries, real estate, invoices, funds and more are being wrapped, tokenized and plugged into crypto rails at a speed that most people still underestimate. Narratives rotate quickly, but the structural shift toward tokenized real-world assets (RWA) is only just beginning.
RWAfi Research exists to make that shift understandable.
We are an independent research collective focused on real-world asset (RWA) tokenization, regulation, and market structure. Our goal is simple: turn complex legal, financial and technical developments into clear, actionable insights for investors and builders across the US, EU and beyond.
What you’ll find here
RWA today sits at the intersection of law, finance and crypto infrastructure. That intersection is noisy and fragmented. We try to cut through the noise with a few clear formats:
Deep dives on key RWA projects and protocols
We break down business models, collateral structures, risk frameworks, token design, incentives and governance – with a special focus on how they interact with existing legal and regulatory regimes.Thematic reports and narratives
We cover topics like on-chain treasuries, private credit, real-estate tokenization, fund structures, KYC/AML rails, and the emerging RWA “stack” (issuers, servicers, oracles, chain choice, custody, distribution).Regulation & policy explained in plain language
We track major US and EU developments that actually matter for RWA: securities law, fund rules, stablecoins, MiCA, licensing regimes, disclosure requirements and more – then translate them into practical implications instead of legalese.Data-driven views
Wherever possible we lean on on-chain and off-chain data: volumes, yields, flows, concentration risk, counterparty exposure, default rates, TVL composition and so on. No hype without numbers.
Who this is for
RWAfi Research is written for people who care about building and allocating capital, not chasing the narrative of the week:
Investors (funds, family offices, angels) who want a structured way to think about RWA risk/return.
Builders and founders working on RWA protocols, infra or distribution.
Legal, risk and compliance professionals who need a bridge between traditional frameworks and on-chain reality.
Curious crypto natives who feel RWA is important but don’t have time to read every whitepaper and legal memo.
If you care about where real yield actually comes from, how it is structured, and what could break – you’re in the right place.
What you won’t find here
We are not:
A signal group or trading-call service.
A paid shill desk.
A place for low-effort copy-paste of project marketing decks.
We will absolutely have opinions. But those opinions will always be grounded in structure: incentives, legal constraints, business models, and data.
How to get the most out of RWAfi Research
Subscribe on Substack so you don’t miss new reports and notes.
Follow us on X (@RWAfiResearch) for shorter takes, charts and live commentary.
Share pieces that resonate with you – especially with people who are making real decisions about capital allocation, policy or product design.
Don’t hesitate to reply or DM with feedback, questions or topics you want us to cover. Good research is a conversation, not a broadcast.
The RWA space is still early. Many structures will fail, some will quietly work, and a few will redefine how capital moves around the world. Our job is not to predict every price move, but to understand how the system is being built – and what that means for risk, opportunity and long-term value.
If that sounds interesting to you, welcome aboard.
RWAfi Research
Real-world assets, without the buzzword fog.