Having tokenized 3.8$ bn worth of RWAs such as agri commodities and invoices, Newrl has launched its RWA lending platform which is expected to get a total TVL of 800$ M. Newrl RWA enables reliable lending against real-world assets such as agri commodities and invoices. The real-world asset is tokenized first, with a two-step process of encrypted data storage on IPFS, followed by minting of the ERC-20 token on Polygon. This step corresponds in the real world to either the initiation of storage of the corresponding commodity or the signing of the invoice by a buyer (depending on which asset it is.) Once tokenized, the owner gets an ERC-20 token of that commodity in their wallet on the polygon. They can then borrow against this on-chain as well as off-chain. In the off-chain variant, an intermediary platform enables the tokenization of fiat currency so that the lender can transfer it to the smart contract when lending. The smart contract transfers this stablecoin onwards to the borrower based on the collateral. The borrower can convert the stablecoin back to fiat currency using the on-ramp/off-ramp service provider. The process is reversed while repaying. Upon repayment including the interest, the collateral token is released from the smart contract to the borrower. They can now take the commodity out of the storage and use it. Upon the exit of the commodity from the storage, the token corresponding to it is destroyed. In case of default, the token is transferred to the lender.