However, the growth of RWAs confirms demand for yield-bearing assets that can integrate with crypto-native capital, but it does not prove that retail access for SMEs has been solved.
SMEs typically secure credit with tangible assets such as machinery, equipment, vehicles, inventory, or real estate
But most existing RWA products accept financial collateral such as receivables, treasuries, or crypto-native assets. They also remain restricted through accredited investor requirements, minimum capital thresholds, or mandatory KYC onboarding. For example, Centrifuge’s ACRDX limits participation to non-U.S. accredited investors and requires a $500,000 minimum investment.
Ondo Finance’s tokenized treasury products require KYC verification and block access from several jurisdictions. Canton Network targets regulated financial counterparties rather than open retail participation. An emerging model under RWA private credit that addresses this mismatch is called the structured-access hybrid model.