MV Capital | RealFi Launches RWA Stablecoin Protocol on Cardano Mainnet

Protocol goes live after testnet exceeds 3,000 wallets, introducing dual-token model with USDrf and staked sUSDrf for real-world asset exposure

RealFi has launched its real-world asset stablecoin protocol on the Cardano mainnet, transitioning from a public testnet phase that attracted more than 3,000 verified active wallets. The move brings a two-token structure designed to separate liquidity from risk onto the live network.

At the center of the protocol are USDrf, a liquid senior dollar-linked token, and sUSDrf, its staked junior counterpart. Approved partners can mint USDrf at a one-to-one value. The planned backing portfolio includes U.S. Treasuries, money-market funds, investment-grade collateralized loan obligation exchange-traded funds, floating-rate corporate notes and private credit.

Token Structure and Exit Paths

USDrf is structured to provide senior exposure, while sUSDrf is designed to absorb losses first. Staking USDrf produces sUSDrf, which is intended to receive returns generated by the underlying portfolio. This arrangement links Cardano-based stablecoin activity with lending and other real-world assets.

Retail holders may exit positions by trading USDrf on supported decentralized exchanges. Secondary-market liquidity and a price matching the token’s target value are not guaranteed. Whitelisted institutions can request redemption through a human-approved, first-in, first-out queue subject to daily and monthly limits. Processing time depends on queue position and reserve composition, with no guaranteed completion period.

Mainnet is an important milestone for RealFi, but it is ultimately the starting point for what we want to build. Our focus is on creating financial infrastructure that brings the transparency and accessibility of blockchain together with exposure to real-world finance, while building a model that is explicit about where risk sits and who bears it. The response to our testnet gave us strong validation ahead of launch, with more than 3,000 verified active wallets participating. We now have the foundations in place to move into the next stage of RealFi’s growth, beginning on Cardano before taking the protocol to a much broader market.John O’Connor, CEO of RealFi

Integrations and Token Rename

The mainnet launch includes live integrations across the Cardano ecosystem. Liqwid provides connections to lending markets, SundaeSwap offers access to decentralized exchange liquidity, and the Lace wallet allows users to interact with the protocol directly.

The launch also formalized a community-voted rename of the stablecoin tokens. USDr became USDrf and staked sUSDr became sUSDrf. The RFG governance token remains unchanged. The change was intended to support future exchange and partner integrations while avoiding name conflicts.

Network Context and Future Plans

On October 2, 2026, Cardano recorded $65.31 million in DeFi total value locked and $67.54 million in stablecoin market capitalization. These figures describe the network on that date and do not establish prior trends.

RealFi plans to expand the protocol to EVM-compatible networks following additional testing. The expansion aims to reach a broader on-chain audience beyond Cardano.

The planned portfolio and redemption terms do not establish current reserve balances or the capital available for withdrawals. Portfolio performance, liquidity and the ability to process redemption requests remain risks to the product’s capacity to meet withdrawal demands. Products are not available at launch to persons located or resident in the United States, the European Union, the United Kingdom or other restricted jurisdictions. In Hong Kong, access is limited to professional investors through permitted offerors. Returns on sUSDrf are variable and not guaranteed, with capital at risk. USDrf is not a bank deposit, is not insured or guaranteed by any government agency, and may not maintain its target value.