The conversation around Real-World Assets has become predictable. Every few months, a new protocol tokenises the same collateral stack: treasuries, invoice factoring, private credit, or real estate. Billions of dollars have flowed into these instruments, and yet the category feels strangely incomplete. Liquidity is growing, yields are stabilising, but the underlying assets all share one characteristic, they are institutional products repackaged for crypto, not assets designed for crypto’s unique distribution, ethos, or user behaviour.

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A different frontier is emerging. One that is not institutional, not exotic, and not structurally fragile. It is boring, physical, and cashflow-dense. We call it street-level RWAs: laundromats, vending machines, arcade claws, micro-farms, POS terminals, and the long tail of small productive assets that power the everyday economy across Asia.

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While traditional RWA protocols fight for access to the same institutional lending books, street-level assets offer something far more compelling a scalable yield engine that is uncorrelated, under-digitised, and operationally simple when engineered correctly.

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This is the part of the economy that global finance forgot, and it is where crypto has the most natural advantage.

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[fs-toc-h2] The Untapped Yield Layer

Micro-assets share a set of attributes that make them uniquely attractive for on-chain deployment:

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[fs-toc-h3] 1. They produce predictable, high-frequency cashflows.

A vending machine or arcade claw settles its PnL every day. There is no duration mismatch, no refinancing cliff, and no dependency on central bank policy cycles. Cashflows are realised and verifiable in real time.

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[fs-toc-h3] 2. They are small, modular, and easily redeployed.

Unlike real estate or heavy machinery, these assets can be moved, resold, or reassigned to new operators with minimal friction. This significantly reduces the tail risk that destroys yield strategies in down-cycles.

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[fs-toc-h3] 3. They operate on behavioural fundamentals.

People wash clothes, buy drinks, and entertain themselves regardless of the macro backdrop. These businesses remain steady in bull markets, bear markets, and everything in between.

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[fs-toc-h3] 4. The category is structurally underpriced.

Traditional lenders do not understand these assets, cannot monitor them, and find the loan sizes too small to underwrite profitably. This inefficiency creates attractive spreads for investors.

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Street-level RWAs are not a niche they are a forgotten market worth billions in annual cashflow across APAC alone. Until recently, they were impossible to access at scale. Now, with IoT data, smart-contract infrastructure, and modern underwriting frameworks, they can be transformed into on-chain yield primitives with institutional reliability and internet-native transparency.

[fs-toc-h2] Yield That Doesn’t Break

The crypto industry has a history of discovering yield sources that work until they suddenly don’t. The problem is always the same: the yield is synthetic, reflexive, or dependent on the price of crypto assets.

Street-level yield is different. It comes from human behaviour, not crypto volatility.

For yield to be sustainable, three things must be true:

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[fs-toc-h3] 1. The underlying cashflows must be real.

A machine that produces $400 per month is not hypothetical. It is observable, measured, and settled in fiat before it ever touches the blockchain.

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[fs-toc-h3] 2. The risk must be operational, not protocol-level.

Smart contracts can be audited. Liquidity can be managed. What matters is whether the machine works, the operator performs, and the cashflow remains stable risk factors that can be monitored with data instead of speculation.

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[fs-toc-h3] 3. Investors must sit behind a meaningful first-loss buffer.

If operators absorb initial downside, investors gain protection even in the rare cases where performance dips. This is how traditional asset-backed lending desks operate, and how crypto reaches the same standard.

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The result is a yield engine that behaves consistently in all market conditions, because it isn’t tethered to leverage loops or token inflation. It’s tethered to real economic activity.

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[fs-toc-h2] Crypto’s Cultural Advantage: Distribution

There is also a more subtle reason street-level RWAs will outperform: people love owning something they can see, touch, or visit.

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A machine in a shopping mall is more relatable than a Treasury bill. It becomes content. It becomes identity. It becomes distribution.

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When investors film themselves standing next to “their” machine, a growth loop emerges:

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Mint → Earn yield → Social proof → More operators → More assets → More yield → More users

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This is where institutional finance cannot compete. Crypto doesn’t just price assets it turns them into stories. 

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[fs-toc-h2] The Next Trillion-Dollar RWA Category

Most RWA protocols are moving up-market, chasing institutional credit at scale. Dualmint is moving in the opposite direction toward the long tail of the real economy where yields are resilient, operators are under-served, and distribution is culturally native to crypto.

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This is the most overlooked frontier in the asset tokenisation landscape. Not grand, not complex, not synthetic just boringly reliable.

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The world doesn’t need another exotic financial instrument. It needs a yield source that keeps paying in bull markets, bear markets, and the forgotten middle.

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Street-level RWAs are that source.

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And this is where Dualmint is building.

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