Stablecoins

Private Equity

non-US Government Debt

US Treasury Debt

Public Equity

Actively-Managed Strategies

Institutional Alternative Funds

Cryptocurrencies

Commodities

Arbitrum is a Layer 2 scaling solution for Ethereum that uses optimistic rollup technology to significantly reduce transaction costs and increase throughput while inheriting Ethereum's robust security. Launched in 2021, Arbitrum processes transactions off the main Ethereum chain and batches them together before final settlement, allowing developers to run Ethereum-compatible smart contracts and decentralized applications with improved efficiency.

USYC lets you earn short-term Fed rate returns. Assets are deployed in reverse repo, with some allocated to T-Bills, to ensure maximum liquidity and minimum duration risk.

Circle International

Tether facilitates fiat currency use digitally on a blockchain, disrupting traditional finance. It enables transactions with stable, familiar currencies on the blockchain, reducing typical digital currency volatility and complexity, and eases cross-border transactions.

Tether Holdings

USDai Protocol

Exodus

Spiko is building a tokenization platform to issue, manage and distribute securities on distributed ledger technologies. The first securities tokenized through Spiko are the world’s first fully-licensed tokenized money market funds, accessible via any Web3 wallet compatible with the Ethereum virtual machine.

Spiko

Franklin Templeton

Delta Wellington Ultra Short Treasury On-Chain Fund

BlackRock USD Institutional Digital Liquidity Fund

WisdomTree Government Money Market Digital Fund

Dinari Securities Backed Tokens (dShares) provide direct exposure to the world's most trusted assets such as Google and Apple shares.

Dinari

USDY (US Dollar Yield Token) is a tokenized note secured by short-term US Treasuries and bank demand deposits. USDY is accessible to non-US individual and institutional investors and is designed to combine the accessibility of a stablecoin with high-quality, US dollar-denominated yield.

Creating a product that meets these requirements while also complying with applicable US laws and regulations does impose some limitations, however. For example, although you start earning interest as soon as we process your deposit, note that we can only mint your transferable USDY tokens between 40-50 days later (depending upon exactly when you invest). Furthermore, we can only redeem to USD via bank wire to non-US bank accounts.

USDY comes in two versions: an “accumulating” version (USDY) whose per-token price increases as yield accrues, and a “rebasing” version (rUSDY) whose price remains at US$1.00. Whereas the price of USDY tokens increases as the value of the underlying assets increase, with rUSDY you simply receive more rUSDY in your wallet; in effect the yield on the underlying assets accrues in the form of additional rUSDY tokens. For example, if you acquired 100 rUSDY tokens when the price per token of USDY was $1.00 – and then the price per token of USDY increased to US$1.01, the price per token of rUSDY would remain at $1.00, but your wallet would now hold 101 rUSDY tokens. This ‘rebasing’ happens automatically when the USDY price is updated each business day.

You can easily and instantly convert back and forth between USDY and rUSDY on our website at any time.

Ondo USDY

Treasury Bills Institutional Liquidity Limited is a registered Professional Fund established under the British Virgin Islands Securities and Investment Business Act 2010 and regulated by the British Virgin Islands Financial Services Commission. It is the issuer of the TBILL token, which is backed by short-duration U.S. Treasury Bills.

Treasury Bills Institutional Liquidity Limited

Trustless stablecoin and low-risk crypto investments backed by the True-Delta Neutral Architecture.

Resolv

Juno is the issuer of MXNB, a fully-reserved Mexican Peso stablecoin backed by the most trusted Mexican company in digital assets, Bitso.

Juno (a Bitso company)

Mountain Protocol issues USDM, a regulated, yield-bearing stablecoin redeemable at a 1:1 USD value, with daily rebases benefiting users through US Treasury interest​​.

Mountain Protocol

Paxos is a regulated blockchain company that transforms financial infrastructure using technology to tokenize, custody, trade, and settle assets for major clients like PayPal and Bank of America, striving for a more inclusive economy.

Paxos

The Wyoming Stable Token Commission is a body politic and corporate created under Wyoming law as an instrumentality of the State of Wyoming to issue and manage the Wyoming Stable Token. Established by the Wyoming Stable Token Act, the Commission oversees the token’s issuance, reserves, and operations to ensure it maintains a stable value, typically pegged to the U.S. dollar. Its mandate includes promoting financial innovation while safeguarding public trust through prudent reserve management and statutory compliance.

The State of Wyoming - Wyoming Stable Token Commission

Resilience BVI Ltd.

Brale is a stablecoin issuance and tokenization platform that helps businesses create bespoke stablecoins and digital assets.

Brale

Solowin

United States of America

Germany

British Virgin Islands

Liechtenstein

Singapore

Cayman Islands

Bermuda

France

El Salvador

European Union

Arbitrum

Circle is a fintech firm central to the emerging internet of money, enabling instant, affordable global transactions. Its infrastructure, including USDC, a dollar stablecoin, supports businesses, institutions, and developers, unlocking new opportunities in payments and commerce.

Circle

Arbitrum L1 Custom Gateway

Securitize provides businesses a platform to raise capital from institutional, accredited or retail investors with shares issued as digital tokens.

Securitize

Franklin Templeton is a global investment management organization (NYSE:BEN). It has developed Benji, a retail mobile app and institutional web app that allows investors to browse tokenized securities and cryptocurrencies.

Franklin Templeton Benji Investments

Libeara is a Singapore-based fintech startup backed by Standard Chartered Ventures, powering the tokenisation of real-world financial assets. With a mission to make quality investments inclusive and accessible.

Libeara

WisdomTree is a global financial innovator offering a diversified suite of exchange-traded products (ETPs), model portfolios, and blockchain-enabled solutions. As a leading independent ETF provider, WisdomTree is also at the forefront of digital finance, having launched a range of blockchain-based funds spanning money markets, equities, fixed income, and asset allocation, along with tokenized assets like gold. These offerings are accessible via WisdomTree Prime® for U.S. retail investors and WisdomTree Connect™ for institutions. Through subsidiaries focused on digital asset management and money services, WisdomTree aims to enhance access, transparency, and user experience across modern financial infrastructure.

WisdomTree

Ondo provides institutional-grade, blockchain-enabled investment products, from government bonds to high-yield bonds.

Ondo

OpenEden Digital ("OED") is a Bermuda Monetary Authority ("BMA") licensed digital asset issuer. OED operates under a Digital Assets Business License issued by the BMA permitting it to issue, sell or redeem virtual coins, tokens or any other form of digital asset. OED is a wholly owned subsidiary of OpenEden Group ("OEG").

OpenEden Digital

Stargate

Bitso

Fireblocks is a digital asset infrastructure company, trusted by 2,200+ institutions to scale stablecoins, custody, and digital asset operations.

Fireblocks

The Re Protocol is a groundbreaking innovation that bridges the gap between traditional insurance markets and decentralized finance (DeFi). Built on blockchain technology, Re Protocol introduces an unprecedented level of transparency, efficiency, and accessibility to the global reinsurance market—a multi-trillion-dollar industry historically characterized by opacity and reliance on intermediaries.
At its core, Re Protocol facilitates direct, efficient capital allocation to reinsurance contracts. This is achieved through a network of interconnected smart contracts and an architecture designed for auditable, secure operations. Participants in the protocol gain exposure to the returns of the reinsurance sector without the traditional barriers of entry, while simultaneously benefiting from the transparency and automation enabled by blockchain.

AlloyX

Advanced Micro Devices, Inc. Common Stock

Arm Holdings plc American Depositary Shares

AstraZeneca PLC American Depositary Shares

Franklin OnChain U.S. Government Money Fund

Coinshares Bitcoin ETF Common Shares of Beneficial Interest

Coinbase Global, Inc. Class A Common Stock

Costco Wholesale Corporation Common Stock

WisdomTree Siegel Global Equity Digital Fund

WisdomTree Floating Rate Treasury Digital Fund

Robinhood Markets, Inc. Class A Common Stock

State Street SPDR Nuveen ICE High Yield Municipal Bond ETF

Meta Platforms, Inc. Class A Common Stock

Sony Group Corporation American Depositary Shares (Each Representing One Share of Dollar Validated Common Stock)

Direxion Daily Semiconductor Bull 3X Shares

The base protocol where the token is deployed

The total outstanding principal amount in dollars.

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The current market value of the asset in dollars.

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The total dollar volume of daily transfers.

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The available financial capacity of the asset in dollars.

The total principal amount paid, in dollars.

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The total dollar value of recovered assets.

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The current price of the asset in dollars.

The value of circulating assets in dollars.

The market value of circulating assets in dollars.

The total dollar volume of weekly transfers.

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The dollar volume of transfers in the last 7 days.

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The total supply of tokens currently available.

The current circulating supply of tokens associated with the asset.

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The current number of active loans associated with the asset

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The number of active addresses interacting with the asset daily.

The daily count of unique holders of the asset.

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The number of active addresses interacting with the asset annually.

The daily count of transactions involving the asset.

The number of transfers in the last 7 days.

The number of transfers in the last 30 days.

#	Platform	RWA Count	Total Value	30D%	Market Share
1	Circle	1	$6.1B	▼10.01%	68.33% ▼
2	Arbitrum L1 Custom Gateway	2	$1.6B	▲4.82%	17.55% ▲
3	USDai Protocol	1	$586.2M	▲5.16%	6.52% ▲
4	Securitize	2	$314.5M	▼39.86%	3.50% ▼
5	Spiko	4	$241.5M	▲7.92%	2.69% ▲
6	Franklin Templeton Benji Investments	1	$55.1M	▼14.74%	0.61% ▼
7	Libeara	2	$37.2M	▲0.29%	0.41% ▲
8	WisdomTree	13	$10.9M	▲0.62%	0.12% ▲
9	Dinari	101	$10.4M	▼6.09%	0.12% ▲
10	Ondo	1	$5.5M	▲0.13%	0.06% ▲

ArbitrumBETA