Skip to content
SkyBitcoins

Best of · Ethereum · Updated

The best RWA Lending dApps on Ethereum in 2026

We track 6 RWA Lending dApps that run on Ethereum and have reviewed 4 of them in full. Our top pick is Aave Horizon RWA. Each one is scored on security, ease of use, fees and features.

Ranked list

  1. 1
    Aave Horizon RWA logo

    Aave Horizon RWA

    RWA Lending · Ethereum

    Aave Horizon is an Ethereum lending market for borrowing stablecoins against tokenized real-world assets. Before using it, check whether you qualify and what collateral, rates and licensing terms apply.

    Read the Aave Horizon RWA reviewVisit Aave Horizon RWA(opens in a new tab)
    ScoreScore 5.5 out of 10
    TVL $219M−0.2%
  2. 2
    Travessia Credit logo

    Travessia Credit

    RWA Lending · Ethereum, Avalanche, Polygon +2

    Travessia Credit is an institutional trade-finance platform for invoice-backed lending, not a general-purpose crypto lending app. Its costs, investor onboarding requirements and protections need closer review before you commit capital.

    Read the Travessia Credit reviewVisit Travessia Credit(opens in a new tab)
    ScoreScore 5.0 out of 10
    TVL $1.43M+0.4%
  3. 3
    TProtocol V2 logo

    TProtocol V2

    RWA Lending · Ethereum

    TProtocol V2 is an Ethereum RWA lending protocol that promotes tokenized T-bill yield. Its fee, redemption and custody details are unclear, so check the terms and asset risks before committing funds.

    Read the TProtocol V2 reviewVisit TProtocol V2(opens in a new tab)
    ScoreScore 4.5 out of 10
    TVL $32.9K+0.1%
  4. 4
    EthicHub logo

    EthicHub

    RWA Lending · Ethereum, Celo, xDai

    EthicHub aims to connect lenders with smallholder farmers, but its current site focuses on selling coffee rather than showing a lending product. Check that lending is open and review the loan terms before committing funds.

    Read the EthicHub reviewVisit EthicHub(opens in a new tab)
    ScoreScore 4.0 out of 10
    TVL $185−25.9%
  5. 5
    Bondlink Finance logo

    Bondlink Finance

    RWA Lending · Ethereum

    Bondlink Finance is a rwa lending project on Ethereum. Its team publishes little about how it works, what it costs or how funds are secured, so treat it with care.

    Read the Bondlink Finance review
    ScoreNot rated yet
    TVL $152K0.0%
  6. 6
    NAOS Finance logo

    NAOS Finance

    RWA Lending · BNB Chain, Ethereum

    NAOS Finance is an RWA lending protocol, but there isn’t enough published detail to assess its current loan pools, costs or safety. Verify that the app is active before connecting a wallet.

    Read the NAOS Finance reviewVisit NAOS Finance(opens in a new tab)
    ScoreNot rated yet
    TVL $18.9K+0.3%

RWA Lending dApps on Ethereum: the numbers

Tracked
6
Reviewed
6
Total TVL
$221M
Avg. score
4.8/10

The SkyBitcoins index lists 6 RWA lending dApps on Ethereum. Every one of them has a full review. Combined, they lock $221M, counting value on every chain they support. Aave Horizon RWA dominates, with 99% of that total. The top five account for 100%, while the median RWA lending dApp holds $32.9K.

Ranked by TVL, Aave Horizon RWA ($219M), Travessia Credit ($1.43M) and Bondlink Finance ($152K) lead the field. On SkyBitcoins scores, Aave Horizon RWA ranks first at 5.5/10, ahead of Travessia Credit (5.0) and TProtocol V2 (4.5). That makes Aave Horizon RWA both the biggest and the best-rated. The 4 rated RWA lending dApps average 4.8/10, and none scores 8 or above yet.

All 4 with a confirmed status are active. In the past week, total value locked was roughly flat (−0.2%). Travessia Credit gained the most (+0.4%), while Aave Horizon RWA dropped the most (−0.2%).

Largest by TVL

  1. 1Aave Horizon RWA logoAave Horizon RWA$219M
  2. 2Travessia Credit logoTravessia Credit$1.43M
  3. 3Bondlink Finance logoBondlink Finance$152K
  4. 4TProtocol V2 logoTProtocol V2$32.9K
  5. 5NAOS Finance logoNAOS Finance$18.9K

Highest rated

  1. 1Aave Horizon RWA logoAave Horizon RWA5.5
  2. 2Travessia Credit logoTravessia Credit5.0
  3. 3TProtocol V2 logoTProtocol V24.5
  4. 4EthicHub logoEthicHub4.0

Method

How we ranked them

Reviewed dApps come first. Each SkyBitcoins review scores security, ease of use, fees and features from 0 to 10 using public facts such as audits, documentation and on-chain data; the overall score orders the list, with total value locked as the tie-breaker. Projects we have not reviewed yet follow, ordered by total value locked. Scores are never sold.

Guides

Related guides

All guides

  • Blockchain

    How to Use Base: A Practical Guide for 2026

    Base is an Ethereum Layer 2 that lets you use compatible wallets and apps with ETH for gas. Learn how to set up a wallet, move funds, estimate costs and avoid common risks.

Frequently asked questions

What is the largest RWA lending dApp on Ethereum by TVL?

Aave Horizon RWA is the largest RWA lending dApp on Ethereum by total value locked, with $219M across all the chains it supports. It is followed by Travessia Credit ($1.43M) and Bondlink Finance ($152K). TVL figures come from DefiLlama and change daily.

Which RWA lending dApp on Ethereum has the highest SkyBitcoins score?

Aave Horizon RWA has the highest score at 5.5/10, ahead of Travessia Credit (5.0) and TProtocol V2 (4.5). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.

How many RWA lending dApps on Ethereum has SkyBitcoins reviewed?

SkyBitcoins tracks 6 RWA lending dApps on Ethereum. Of these, 6 have a full review and 6 report value locked, $221M in total, counting value on every chain they support.

Which RWA lending dApps on Ethereum grew the most this week?

Among RWA lending dApps with at least $1M locked, Travessia Credit had the biggest 7-day TVL gain (+0.4%) and Aave Horizon RWA the biggest drop (−0.2%). Combined TVL moved −0.2% over the same seven days.

What is the average score for RWA lending dApps on Ethereum?

The 4 rated RWA lending dApps on Ethereum average 4.8 out of 10. Of these, 0 score 8 or higher and 2 score below 5.