RWA Payout Radar: 740 tokens stopped paying, 5 wound down, 10 Treasury funds trail the T-bill
A yield on a token page is a promise. This page lists where the promise no longer holds: payouts that stopped, products that were wound down, Treasury funds paying less than the T-bill they hold, and issuers whose website no longer answers. Every entry is stated by the issuer or a public body, or measured by us on the date above.
740 RealT tokens: rents stated, not paid since February 2026
RealT tokenized single houses in US cities and paid the net rent to token holders. Since February 2026 the rents are not paid out; the figures RealT still states are what a house would earn, not what holders receive. Median stated net rent: 9.85%.
| City | Tokens |
|---|---|
| Detroit, MI | 541 |
| Cleveland, OH | 61 |
| Chicago, IL | 23 |
| St. Louis, MO | 12 |
| Toledo, OH | 9 |
| Garfield Heights, OH | 8 |
| Montgomery, AL | 6 |
| Maple Heights, OH | 3 |
Sources: City of Detroit · Detroit News (July 2025) · Outlier Media · All RealT properties
5 yield products that closed, stopped paying or lost their peg
Each line is the issuer’s own notice as recorded on the token page. Most still allow redemption — check the issuer before selling on a market below par.
| Product | Issuer | Category | What happened | Size |
|---|---|---|---|---|
| GF-PRIME Goldfinch Prime | Goldfinch (Warbler Labs) | Private Credit | Shutting down — no new deposits | — |
| USDM Mountain Protocol USDM | Mountain Protocol | Yield Stablecoins | 0% — rewards ended in the 2025 wind-down | ~$185M |
| USDN Noble Dollar | Noble | Yield Stablecoins | Wound down — maintenance mode, redemption only | — |
| USDL Paxos Lift Dollar | Paxos International | Yield Stablecoins | Wound down — yield stopped 8 Dec 2025, balances converted to USDG | Smaller (emerging-market focus) |
| USR Resolv USR | Resolv Labs | Yield Stablecoins | No yield figure — peg lost after the March 2026 exploit | — |
10 of 10 US-dollar Treasury funds pay less than the 13-week bill
A tokenized Treasury fund holds T-bills, so the bill rate is its ceiling: what is missing is fees and the lag of a trailing yield. Benchmark: 13-week T-bill 4.15% on 2026-10-27 (US Treasury). Yields as stated by the funds, from the 2026-10 edition of our Tokenized Treasuries report.
| Fund | Issuer | Yield | Gap | Per $10,000 a year | Size |
|---|---|---|---|---|---|
| USYC Circle USYC | Circle (Hashnote Intl. Short Duration Yield Fund) | 3.17% 2026-10-18 | −0.98 pp | −$98 | ~$3B |
| USTB Superstate Short Duration US Government Securities Fund | Superstate / Invesco | 3.35% 2026-10-18 | −0.80 pp | −$80 | ~$700M-$1B |
| TBILL OpenEden TBILL | OpenEden | 3.37% 2026-10-18 | −0.78 pp | −$78 | ~$115M |
| WTGXX WisdomTree Treasury Money Market Digital Fund | WisdomTree | 3.50% | −0.65 pp | −$65 | ~$765M |
| OUSG Ondo Short-Term US Government Treasuries | Ondo Finance | 3.56% 2026-10-18 | −0.59 pp | −$59 | $578M |
| BUIDL BlackRock USD Institutional Digital Liquidity Fund | BlackRock / Securitize | 3.59% 2026-08-25 | −0.56 pp | −$56 | $2.4B |
| JTRSY Janus Henderson Anemoy Treasury Fund | Anemoy / Janus Henderson (Centrifuge) | 3.59% 2026-08-25 | −0.56 pp | −$56 | $871M |
| USDY Ondo US Dollar Yield | Ondo Finance | 3.69% 2026-10-18 | −0.46 pp | −$46 | $2.14B |
| BENJI Franklin OnChain US Government Money Fund | Franklin Templeton | 3.73% 2026-10-19 | −0.42 pp | −$42 | $821M |
| USTBL Spiko US T-Bills Money Market Fund | Spiko (SICAV, France) | 3.82% 2026-10-19 | −0.33 pp | −$33 | $146M |
3 of 271 issuer websites did not answer
We opened every website a live product in our data links to for buying, on 2026-11-09. Listed only after two failed attempts two minutes apart. A site can be down for a day — or the product may be gone; ask the issuer before you send money.
| Website | Products | What we got |
|---|---|---|
| invest.operal.solutions | OPR, OPRS | No secure connection — the site does not answer under this address |
| investors.parknsleep.eu | PN, PNS | No secure connection — the site does not answer under this address |
| www.bloxxter.com | BLOXXTER | No secure connection — the site does not answer under this address |
72 tokens have reached their maturity date
Not a warning — a bond that matures pays back and ends. Listed so a token that no longer pays is not mistaken for one that does: 52 Tokenized Bonds, 9 Tokenized Treasuries, 5 Real Estate, 4 Private Credit, 2 Alternative Funds. The most recent:
| Product | Issuer | Matured |
|---|---|---|
| International Bank For Reconstruction And Development 3.399% 2026 (digital bond) | International Bank For Reconstruction And Development | 2026-10-23 |
| Inter-American Development Bank 4.262% 2026 (digital bond) | Inter-American Development Bank | 2026-08-11 |
| Export Development Canada — EDC tokenized bond (Project Samara) | Export Development Canada | 2026-06 |
| HKSAR Government — Digital Green Bond 2024 (EUR tranche) | HKSAR Government | 2026-02 |
| HKSAR Government — Digital Green Bond 2024 (HKD tranche) | HKSAR Government | 2026-02 |
| HKSAR Government — Digital Green Bond 2024 (RMB tranche) | HKSAR Government | 2026-02 |
| HKSAR Government — Digital Green Bond 2024 (USD tranche) | HKSAR Government | 2026-02 |
| Luxembourg (Grand-Duche De) 2025 (digital bond) | Luxembourg (Grand-Duche De) | 2025-12-18 |
| Banque Europeenne D'investissement 3.638% 2025 (digital bond) | Banque Europeenne D'investissement | 2025-06-19 |
| Societe Generale 2025 (digital bond) | Societe Generale | 2025-04-23 |
Short answers
Which tokenized real-estate tokens have stopped paying?
740 RealT tokens — single houses, mostly in Detroit (541) — show stated net rents of up to 18.21%, but the rents have not been paid out since February 2026. The City of Detroit sued RealT over the condition of its properties.
Which yield stablecoins have been wound down?
GF-PRIME, USDM, USDN, USDL, USR: GF-PRIME — Shutting down — no new deposits; USDM — 0% — rewards ended in the 2025 wind-down; USDN — Wound down — maintenance mode, redemption only; USDL — Wound down — yield stopped 8 Dec 2025, balances converted to USDG; USR — No yield figure — peg lost after the March 2026 exploit.
Do tokenized Treasury funds pay the T-bill rate?
Not quite. 10 of 10 US-dollar funds with a stated yield paid less than the 13-week T-bill (4.15% on 2026-10-27). The widest gap was USYC at 0.98 percentage points — $98 a year on $10,000. Fees and the lag of a fund's trailing yield explain most of it.
How do you check whether an issuer is still online?
We open the website every live product in our data links to for buying — 271 hosts on 2026-11-09. A site counts as not answering only after two failed attempts two minutes apart; a block page, a login wall or a slow answer counts as online.
Download the radar
Every flagged product and website under CC BY 4.0 — use it, cite it.
Cite as: TokenBank (2026), “RWA Payout Radar”, https://tokenbank.world/reports/payout-radar
How this page is built
- Payouts suspended and wound down: the issuer’s notice or a public body’s statement, as recorded on each token page. We do not judge why.
- Under the T-bill: US-dollar tokenized Treasury funds with a stated yield, against the 13-week bill rate published by the US Treasury for the same edition.
- Websites: every host our live products link to for buying. A 403, a login wall or a timeout counts as online — some exchanges block our server’s region. Only a failed secure connection or a server error, twice, is listed.
- Rebuilt from our live data; the date at the top is the last check. Not investment advice.