Real-World Assets · Alternatives
The best Sky RWA alternatives in 2026
Sky RWA is the real-world-asset collateral class in the Sky (formerly Maker) protocol on Ethereum, relevant to USDS and sUSDS users. If Sky RWA is not the right fit, these 12 reviewed Real-World Assets options are the closest matches, ranked by DappsAtlas score. Read our full Sky RWA review
At a glance
Sky RWA vs the alternatives
| dApp | Score | TVL | Chains |
|---|---|---|---|
| Score 7.1 out of 10 | $61.2M | 1 | |
| Score 7.4 out of 10 | $246M | 3 | |
| Score 7.4 out of 10 | $42.4M | 5 | |
| Score 6.5 out of 10 | $34.7M | 14 | |
| Score 7.0 out of 10 | $82.0M | 1 | |
| Score 7.0 out of 10 | $102M | 3 | |
| Score 6.8 out of 10 | $41.9M | 5 | |
| Score 8.0 out of 10 | — | — | |
| Score 7.8 out of 10 | — | — | |
| Score 7.6 out of 10 | — | — | |
| Score 7.4 out of 10 | — | 6 | |
| Score 7.4 out of 10 | — | 1 | |
| Score 7.4 out of 10 | — | 2 |
Ranked
Top Sky RWA alternatives
- 1
OpenTrade
Real-World Assets · Avalanche, Ethereum, Plume
OpenTrade is stablecoin yield infrastructure that lets fintechs and digital asset platforms offer real-world-asset-backed yield products. It targets businesses first, and its main strength is a legal and operational wrapper around RWA yield.
ScoreScore 7.4 out of 10TVL $246M−0.4% - 2
Brickken
Real-World Assets · BNB Chain, Ethereum, Base +2
Brickken is a tokenization platform that lets companies issue and manage tokens backed by real-world assets, with built-in KYC/KYB and compliance tools. It targets institutions and issuers, not casual DeFi users.
ScoreScore 7.4 out of 10TVL $42.4M−0.0% - 3
KAIO
Real-World Assets · Sei, Immutablezkevm, Aptos +11
KAIO, formerly Libre Capital, tokenises institutional funds from managers such as BlackRock and Brevan Howard and makes them usable across many chains. Access is restricted to onboarded accredited and institutional investors, so it is not a general retail product.
ScoreScore 6.5 out of 10TVL $34.7M−10.5% - 4
Usual USD0
Real-World Assets · Ethereum
Usual is an Ethereum-based protocol whose USD0 stablecoin is backed by tokenized US Treasury bills, with revenue shared with users through the USUAL token. Its model differs from standard fiat stablecoins, but stablecoin and smart-contract risks still apply.
ScoreScore 7.0 out of 10TVL $82.0M−1.3% - 5
Anemoy Capital
Real-World Assets · Ethereum, Base, Celo
Anemoy is a web3-native asset manager built on Centrifuge that offers tokenized funds holding Treasuries, AAA CLOs and an S&P 500 index exposure. It suits eligible investors who want regulated-style real-world assets onchain, but access terms and fees are not clear from public pages.
ScoreScore 7.0 out of 10TVL $102M−0.4% - 6
Tangible RWA
Real-World Assets · Polygon, Arbitrum, Optimism +2
Tangible is a tokenization protocol and marketplace for real-world assets, including real estate and US Treasury-backed tokens. It shows about $42 million in TVL, but yields depend on off-chain assets and public sources leave fees and redemption terms unstated.
ScoreScore 6.8 out of 10TVL $41.9M−0.3% - 7
Spiko
Real-World Assets
Spiko is a Paris-based, regulated platform that offers tokenized and traditional money market funds on T-bills, plus cash accounts in several currencies. It is aimed at companies and individuals who want daily yield on treasury cash.
ScoreScore 8.0 out of 10TVL — - 8
BlackRock BUIDL
Real-World Assets
BlackRock BUIDL is a tokenized money-market-style fund holding short-term U.S. Treasuries, repurchase agreements and cash, issued onchain through Securitize. It suits institutions that want dollar yield with onchain settlement, not retail DeFi users.
ScoreScore 7.8 out of 10TVL — - 9
Dinari
Real-World Assets
Dinari issues dShares, tokens backed 1:1 by US stocks and ETFs held in a custodial brokerage account, and distributes them through partner apps and an API. It suits compliance-minded platforms and eligible investors who want regulated tokenized equities.
ScoreScore 7.6 out of 10TVL — - 10
VNX
Real-World Assets · Ethereum, Polygon, Solana +3
VNX issues fully backed Swiss franc and British pound stablecoins and a tokenized gold product under a Bermuda Monetary Authority licence. It suits users who want non-USD or physical-metal exposure onchain, with fee details left to the platform.
ScoreScore 7.4 out of 10TVL — - 11
Paxos Gold
Real-World Assets · Ethereum
Pax Gold (PAXG) is an Ethereum token that represents one fine troy ounce of LBMA-standard gold held in London vaults by Paxos Trust Company. It suits people who want gold exposure on-chain, with the main caveat being reliance on a single regulated custodian.
ScoreScore 7.4 out of 10TVL — - 12
Ondo Global Markets
Real-World Assets · Solana, Robinhood Chain
Ondo Global Markets issues tokenized U.S. stocks and ETFs that non-US users can hold and move onchain. It has grown quickly, but it carries issuer, custody and regulatory risks that holders should understand.
ScoreScore 7.4 out of 10TVL —