Binance Bridge

Circle

BitGo

Securitize

Ondo

Falcon Finance

Franklin Templeton Benji Investments

First Digital Labs

StandX Protocol

Lista DAO

Chainlink CCIP

Matrixdock

Tether Holdings

Fireblocks

PT Rupiah Token Indonesia 

Centrifuge

Anchored Coins

Asseto

BCP Technologies

Stargate

BDACS

xStocks

Stablecoins

US Treasury Debt

Stocks

Asset-Backed Credit

Commodities

Corporate Credit

Diversified Credit

Cryptocurrencies

Real Estate

Active Strategies

BlackRock

Franklin Templeton

StandX

Maple Protocol Pool Operations

VanEck Absolute Return Advisers Corporation

Tether

Anemoy

China Merchants Securities (HK)

Resolv

Backed Assets

Protocol Pool Operations is Maple’s affiliated operator that runs institutional lending pools and cash-management vehicles on the Maple protocol, handling underwriting, risk, and day-to-day administration. In practice, it serves as the pool delegate/manager for Maple’s flagship products.

Anemoy is a Web3-native fund company revolutionizing onchain finance by delivering tokenization and onchain asset management. Built on the Centrifuge protocol, Anemoy provides institutional-grade investment opportunities within DeFi.

Anemoy is a pioneer with strategic partnerships like Janus Henderson Investors asset management for the onchain era. The Janus Henderson Anemoy Treasury Fund Segregated Portfolio (JTRSY) is the highest rated in the industry by Moody’s, S&P and Particula. Anemoy leverages blockchain technology to maximize operational efficiency, transparency, and investor access, setting new benchmarks for institutional-grade tokenized funds.

Binance

Anchored Coins is a Swiss-based issuer of ACHF and AEUR, founded and managed by experienced blockchain industry leaders committed to providing innovative financial solutions.

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.

BlackRock USD Institutional Digital Liquidity Fund

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

VanEck Treasury Fund

BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.

The entity's brand name is First Digital Labs, and it operates as a BVI‑registered subsidiary under the First Digital Group

FD121 (BVI) Limited

Ondo Global Markets (BVI) Limited is the issuer behind Ondo Global Markets (Ondo GM), a tokenization platform that enables global (non-U.S.) investors to gain on-chain exposure to thousands of publicly traded U.S. securities, including stocks, bonds, and ETFs. By issuing tokens fully backed 1:1 by the underlying assets, the platform delivers total-return exposure, reflecting both price movements and reinvested dividends.

Ondo Global Markets

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

BCP Technologies is an FCA-registered cryptoasset firm in the UK and the issuer of Tokenised GBP (tGBP)

Korea-based institutional digital-asset custodian; founded 2022; KoFIU-registered VASP with bank/crypto partnerships.

Issuer SPV for StandX’s DUSD stablecoin—the BVI entity that issues the tokens and runs onboarding/KYC under the platform’s terms.

Founded in February 2023 by Matrixport, Matrixdock is Asia’s Real World Assets (RWA) leader that modernizes financial instruments and offers access to premium RWA through advanced tokenization technology. As the first in Asia to introduce a tokenized short-term treasury bill product, STBT, Matrixdock has rapidly emerged as Asia’s RWA leader, earning the Ecosystem Excellence TADS Award in 2023 for Trading & Liquidity Solutions. 

In 2024, Matrixdock introduced tokenized gold, XAUm, an ERC-20 token fully backed by 99.99% purity gold, offering investors a trusted and transparent digital asset tied to London Bullion Market Association (LBMA) accredited gold. The gold reserves backing XAUm are securely held in Brink’s high-security, fully insured vaults in Singapore and Hong Kong, enabling physical redemption. 

Matrixdock is dedicated to becoming the gateway for clients seeking blue-chip RWA investments. With a steadfast focus on building a trusted and secure RWA ecosystem for crypto, Matrixdock provides diversified investment opportunities while setting new standards for trust and governance in the digital asset space.

 DeFi protocol on BNB Chain offering liquid staking (slisBNB) and an over-collateralized stablecoin (lisUSD); rebranded from Helio Protocol in 2024.

Luxembourg-based bank providing embedded payments, accounts and FX infrastructure to PSPs and banks, with central-bank clearing access and branches/subsidiaries across Europe.

Banking Circle S.A.

Offshore token issuer that wraps fund interests into blockchain tokens.

Reale Assets Limited.

United States of America

British Virgin Islands

Liechtenstein

Hong Kong

United Kingdom

El Salvador

European Union

BNB Chain

The leading platform for tokenized financial products.‍ Brings the full power of onchain finance to asset managers and investors.

xStocks issues tokens that track major financial instruments (S&P500, T-bills, TSLA, AAPL, etc.) on public blockchains. The tokens are fully backed by the underlying assets.

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

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

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.

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.

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

Cross-Chain Interoperability Protocol (CCIP) is Chainlink’s standard for secure cross-chain messaging and token transfers, letting apps move tokens and data across public and private blockchains via decentralized oracle networks.

Asseto is building the yield infrastructure for the stablecoin economy. As RWAs become the next frontier of onchain finance, we go beyond static tokenization by transforming live, yield-generating strategies into programmable, composable assets. We partner with leading asset managers to bring real-world, compliant products on-chain — balancing yield, liquidity, and regulatory alignment. Current offerings include delta-neutral arbitrage and tokenized cash strategies, with more coming soon: private equity, private credit, and multi-asset structured products. 

Backed by strategic investors HashKey Group and Pharos, our team combines experience from Morgan Stanley, Standard Chartered, E Fund, and more — bridging traditional finance with Web3 execution. 

Asseto is not just tokenizing RWA — we’re building the real yield stack: compliant, composable, and connected to the real economy.

iShares Core US Aggregate Bond ETF (Ondo Tokenized)

ChinaAMC USD Digital Money Market Fund Class B USD

Apollo Global Management (Ondo Tokenized)

Franklin OnChain U.S. Government Money Fund

iShares Flexible Income Active ETF (Ondo Tokenized)

BitMine Immersion Technologies (Ondo Tokenized)

CMS Asseto Secure Hodl+ | CMS USD Money Market Fund

First Trust NASDAQ Cybersecurity ETF (Ondo Tokenized)

iShares AAA CLO Active ETF (Ondo Tokenized)

Global X Copper Miners ETF (Ondo Tokenized)

Invesco DB Commodity Index Tracking Fund (Ondo Tokenized)

WisdomTree US Quality Dividend Growth Fund (Ondo Tokenized)

The base protocol where the token is deployed

The total outstanding principal amount in dollars.

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#	Platform	RWA Count	Total Value	30D%	Market Share
1	Binance Bridge	3	$10.8B	▲1.95%	64.04% ▼
2	Circle	1	$2.8B	▲21.33%	16.61% ▲
3	BitGo	1	$1.8B	▼0.81%	10.85% ▼
4	Securitize	2	$529.6M	▲0.19%	3.15% ▼
5	Ondo	264	$321.8M	▲20.84%	1.92% ▲
6	Falcon Finance	1	$114.3M	▲0.07%	0.68% ▼
7	Franklin Templeton Benji Investments	1	$113.7M	▲0.22%	0.68% ▼
8	First Digital Labs	1	$92.2M	▲1.84%	0.55% ▼
9	StandX Protocol	1	$88.6M	▲5.54%	0.53% ▲
10	Lista DAO	1	$76.2M	▲0.07%	0.45% ▼

BNB ChainBETA

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