Cardano's total value locked (TVL) in decentralized finance (DeFi) applications has fallen by more than 50% from $150 million in May to approximately $67 million. Amidst this contraction, RealFi launched its USDrf dollar-token system on October 1, aiming to integrate real-world credit and lending in emerging markets with Cardano's growing stablecoin liquidity, which is nearing an all-time high of $70 million. The initiative allows eligible retail users to acquire USDrf and stake it for sUSDrf, offering variable returns from an underlying portfolio that includes direct loans and private credit funds. Verified institutional partners can directly mint and redeem USDrf with the issuer, while retail redemptions are dependent on market liquidity.