Here is what the page “Why Real-World Assets Need Fixed-Rate Loans Onchain: Peter Gaffney on the $1.8B Opportunit” contains. Real-world assets (RWAs) already back the largest stablecoins, but borrowing against them onchain still relies on variable-rate pools. Peter Gaffney of O2O Capital Partners argues that fixed-rate, fixed-term lending is the missing piece for institutional adoption. He points to a concrete example: a 5% shift in reserves at Sky (formerly MakerDAO) and Ethena could create $1.8 billion of demand for RWAs. That shift would move capital from volatile crypto-native yields into more predictable, asset-backed structures.
Fixed-rate loans would give lenders and borrowers the certainty needed to scale RWA-backed stablecoins beyond their current niche. Gaffney’s analysis highlights how traditional finance principles—term, rate, and collateral—can be replicated onchain without sacrificing transparency. The takeaway: the next wave of RWA growth may depend less on tokenization and more on the lending rails that make those assets useful as collateral. This listing links straight to the original page, where the content is available in full.