RWA shifts DeFi yield from token emissions to real underlying assets, a fundamental market change highlighted by Julian Kwan amid growth of real-world assets RWA tokenization in crypto markets.

According to @Nick_van_Eck, Agora is partnering at launch with @hizonpm and the Mu team to bring institutional-grade credit products on-chain with stated capacity in the billions (source: @Nick_van_Eck, X, Nov 21, 2025). According to @Nick_van_Eck, the announcement emphasizes working with high-integrity teams delivering unique on-chain products and includes a link to Mu Digital’s post for further details (source: @Nick_van_Eck, X, Nov 21, 2025). According to @Nick_van_Eck, the post does not disclose token tickers, blockchain networks, yield terms, or specific launch dates, indicating a high-level partnership update relevant to RWA DeFi credit markets (source: @Nick_van_Eck, X, Nov 21, 2025).