The RWA tokenisation space has grown rapidly, and UK investors now have multiple platform options. This guide compares the leading platforms across key criteria.
Comparison Overview
Ondo Finance
Focus: Tokenised treasuries, bonds, and institutional-grade credit Blockchain: Ethereum, Solana Regulation: SEC-compliant (US-based) UK Access: Available via whitelist Minimum Investment: $1,000 (retail), $5M+ (institutional) Key Products: OUSG (tokenised US Treasuries), USDY (yield-bearing stablecoin)
Centrifuge
Focus: Tokenised real-world credit, trade finance, and private credit Blockchain: Ethereum, Base, Polygon Regulation: EU-compliant (German-based) UK Access: Open access Minimum Investment: Varies by pool Key Products: Tinlake pools, Centrifuge Prime
Backed Finance
Focus: Tokenised ETFs, stocks, and index funds Blockchain: Ethereum, Polygon, Arbitrum Regulation: Swiss-regulated (FINMA) UK Access: Open access (professional investors) Minimum Investment: $1 Key Products: bCSPX (tokenised S&P 500), bIB01 (tokenised treasuries)
RealT
Focus: Tokenised real estate (US rental properties) Blockchain: Ethereum, Gnosis Regulation: SEC-exempt (US-based) UK Access: Open access (accredited) Minimum Investment: $50 Key Products: Fractional rental properties
BlackRock BUIDL
Focus: Institutional tokenised treasuries Blockchain: Ethereum Regulation: SEC-registered UK Access: Institutional only Minimum Investment: $5M Key Products: Tokenised US Treasury fund
DeFi Integration Comparison
| Platform | DeFi Lending | LP Pools | Staking |
|---|---|---|---|
| Ondo | Yes (Morpho) | Yes (Curve) | Yes |
| Centrifuge | Yes (MakerDAO) | No | Yes |
| Backed | Yes (various) | Yes | No |
| RealT | Limited | No | Yes (via rental income) |
| BUIDL | Very Limited | No | No |
Fee Comparison
| Platform | Management Fee | Performance Fee | Gas Costs |
|---|---|---|---|
| Ondo | 0.15% | None | Low-Med |
| Centrifuge | 0.5%+ | Yes (pool-dependent) | Medium |
| Backed | 0.3% | None | Low-Med |
| RealT | 5-10% (sale) | None | Low |
| BUIDL | 0.02% | None | Low |
Which Platform is Right For You?
Choose Ondo Finance if: You want exposure to tokenised US treasuries and have $1,000+ to invest. Their DeFi integration is the most mature.
Choose Centrifuge if: You’re interested in private credit and want to diversify across multiple pools. The MakerDAO integration adds institutional credibility.
Choose Backed Finance if: You want low-cost exposure to traditional ETFs and stocks on-chain, with minimal minimums.
Choose RealT if: You want direct real estate exposure with $50 minimums and passive rental income.
Choose BlackRock BUIDL if: You’re an institutional investor with $5M+ seeking the lowest fee treasury exposure.
UK-Specific Considerations
- FCA authorisation: Most platforms are not FCA-regulated — verify before investing
- Tax treatment: Each platform’s structure affects your tax position
- Custody: Understand how underlying assets are held and by whom
- KYC: Most platforms require accreditation or professional investor status
Verdict
The “best” platform depends entirely on your goals. For most UK retail investors, Ondo Finance and Backed Finance offer the best combination of accessibility, product quality, and DeFi integration. Institutional investors should prioritise BlackRock BUIDL and Ondo’s institutional products.
Disclaimer: This comparison is for educational purposes. Platforms, fees, and availability change frequently. Always verify current details before investing.