Tokenized TradFi Credit Surpasses Crypto-Native Counterparts in Retention Rates

According to an onchain analysis by Arrakis Finance published in July, tokenized traditional financial (TradFi) credit products are retaining a significant portion of their buyers after one year. The study looked at 71,697 buyers across ten tokenized dollar-yield products and found that these products retained 68% of their buyers after 12 months.

The analysis also showed that treasury products held onto 60% of their buyers during the same period. In contrast, crypto-native credit and carry products managed to retain a paltry 28% of their buyers.

One notable exception was Centrifuge's JAAA product, which had a median check size of around $29 million, roughly three times larger than the next-biggest product in the category.

The study also found that most acquisitions settled in USDC (around 80%), accounting for approximately $17.4 billion in volume. Secondary-market purchases accounted for less than 6% of overall volume.