Bridge

Theo

Swarm

Ondo

Stablecoins

US Treasury Debt

Stocks

Commodities

BlackRock

HyperEVM is a high-performance, permissionless Ethereum Virtual Machine (EVM) execution layer natively integrated into the Hyperliquid Layer-1 blockchain. It enables developers to deploy Solidity-based decentralized applications (dApps) that seamlessly interact with Hyperliquid's native, high-speed trading engine (HyperCore).

Swarm X

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

Bridge is Stripe’s stablecoin issuance and treasury infrastructure platform, enabling compliant minting, redemption, and management of fully-backed digital dollars. It provides regulated fiat on/off-ramp services, reserve management coordination, and tokenization rails for stablecoins backed by cash and U.S. Treasury assets.

Felix is a Hyperliquid-native decentralized finance protocol operated through non-custodial smart contracts. The platform provides lending, borrowing, stablecoin, vault, and market infrastructure across HyperEVM/Hyperliquid, including feUSD CDP markets, vanilla lending markets, and USDhl, a fiat-backed stablecoin product for the Hyperliquid ecosystem powered by M0 infrastructure.

Felix Labs

United States of America

Germany

HyperEVM

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

Swarm is a Germany-based tokenization platform regulated by the Federal Financial Supervisory Authority (BaFin). 

M0 is the universal platform powering builders of application-specific stablecoins. With M0, developers can build safe, programmable and interoperable digital dollars.

Global X Copper Miners ETF (Ondo Tokenized)

Swarm Trump Media & Technology Group Corp.

iShares MSCI South Korea ETF (Ondo Tokenized)

iShares Core S&P 500 ETF (Ondo Tokenized)

abrdn Physical Palladium Shares ETF (Ondo Tokenized)

abrdn Physical Platinum Shares ETF (Ondo Tokenized)

Swarm Shares $ Treasury Bond 0-1yr UCITS ETF (USD Acc)

Swarm iShares $ Treasury Bond 1-3yr UCITS ETF

Taiwan Semiconductor Manufacturing (Ondo Tokenized)

The base protocol where the token is deployed

The total outstanding principal amount in dollars.

The total outstanding capital amount in dollars.

The total amount of idle capital in dollars.

The current market value of the asset in dollars.

The total value of daily burns in dollars.

The total dollar volume of daily transfers.

The net asset value of the asset in dollars.

The available financial capacity of the asset in dollars.

The total principal amount paid, in dollars.

The total principal amount written off, in dollars.

The total dollar value of recovered assets.

The cumulative total of principal repaid, in dollars.

The total cumulative interest earned, in dollars.

The maximum financial capacity of the asset in dollars.

The total dollar value of assets that have been drawn down.

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.

The total dollar volume of monthly transfers.

The dollar volume of transfers in the last 7 days.

The dollar volume of transfers in the last 30 days.

The total supply of tokens currently available.

The current circulating supply of tokens associated with the asset.

The total number of loans funded through the asset.

The current number of active loans associated with the asset

The total number of loans that have defaulted.

The number of active addresses interacting with the asset daily.

The daily count of unique holders of the asset.

The number of active addresses interacting with the asset weekly.

The number of active addresses interacting with the asset monthly.

The number of active addresses interacting with the asset quarterly.

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	Bridge	1	$100.7M	▲8.21%	95.89% ▲
2	Theo	1	$3.3M	▼10.19%	3.10% ▼
3	M0	1	$1.1M	▲0.89%	1.01% ▼
4	Swarm	38	$58.5	▲9.20%	0.00% ▲
5	Ondo	35	$27.4		0.00% △
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HyperEVMBETA

Metric