Real-World Assets (RWA)
German: Reale Vermögenswerte (RWA)
Off-chain assets such as government bonds, private credit, real estate or commodities represented on a blockchain, usually through a fund or SPV wrapper rather than direct title.
Buy-side and product people mapping the category: what is actually in it, how large it is, and where the legal claim sits.
Reale Vermögenswerte (RWA) — Außerhalb der Blockchain existierende Vermögenswerte wie Staatsanleihen, Unternehmenskredite, Immobilien oder Rohstoffe, die auf einer Blockchain abgebildet werden, in der Regel über einen Fonds oder eine Zweckgesellschaft statt über unmittelbares Eigentum.
Related terms
Looking for how this maps to its traditional-finance counterpart rather than a standalone definition? See the Term Bridge, which also flags where the obvious analogy is wrong.