Polygon Bridge

USDT0

Justoken

Circle

Spiko

Cashlink

Reental

Beself Brands, SA

Securitize

EVIDENT

Transfero

NYALA

Avenia

MB | Mercado Bitcoin

Agora Ledger

AlloyX

Xfers Pte Ltd

Tokengate

Quantoz Payments

PT Rupiah Token Indonesia 

Stasis

Swarm

Schuman Financial

Monerium

Forte Tech Solutions

Aktionariat

Brale

Frax Finance

KAIO

Etherfuse

AGROS

BCP Technologies

Fireblocks

BDACS

Franklin Templeton Benji Investments

Backed Finance

Bitso

Frankencoin Protocol

Ondo

Stablecoins

Commodities

non-US Government Debt

Active Strategies

Real Estate

Private Equity

US Treasury Debt

Corporate Credit

Diversified Credit

Specialty Finance

Stocks

Amundi

Twenty First Capital

Reental America

BlackRock

State Street Investment Management

Securitize Capital

VanEck Associates Corporation

Solomon Global Asset Management

Hamilton Lane

Cropto

Franklin Templeton

Tidal Investments

Asset-Backed Credit

Polygon PoS is a EVM-compatible, scalable, proof-of-stake (PoS) side-chain that complements Ethereum’s decentralized security with fast settlement times and cost efficiency. It is powered by its native network token, POL, which was previously known as MATIC.

Frankencoin is a decentralized, oracle-free protocol issuing ZCHF, an overcollateralized Swiss franc stablecoin backed by on-chain crypto collateral and governed by Frankencoin Pool Share holders. ZCHF is designed to track CHF 1:1 without relying on a centralized issuer, bank deposit reserve or price oracle

EURS is the largest Euro-backed digital asset, combining the benefits of the world’s second most traded currency with the transparency, immutability, and efficiency of the blockchain.

Ondo I

Swarm X

Backed Assets

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

Agora Bermuda Limited

MakerDAO

BRLA

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

Transfero enables global companies to access the numerous opportunities in the Latin American market seamlessly and without bureaucracy.  

We connect the banking, crypto, and financial systems, providing the necessary infrastructure for companies that want to offer financial services to their individual and institutional clients.

Forte Securities Australia Pty Limited

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.

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

Hamilton Lane SCOPE Securitize Tokenized Feeder Fund

Hamilton Lane SF6 - Securitize Tokenized Feeder Fund

BlackRock USD Institutional Digital Liquidity Fund

Libre SAF VCC

Securitize Tokenized Apollo Diversified Credit Fund

Our mission is to bring access to sovereignn debt by leveraging blockchain technology to lower barriers to ownership and empower individuals worldwide.

Issuer of BRL1, a BRL-pegged stablecoin.
BRL1 is a fully backed Brazilian Real (ISO 4217: BRL, abbreviated as R$) pegged-stablecoin designed to provide a frictionless on-chain solution for the Brazilian crypto market, but still supporting relevant use cases within the traditional financial industry and its players. Developed by a consortium of leading crypto native and banking companies - Mercado Bitcoin, Foxbit, Bitso, and Cainvest - BRL1 initially aims to facilitate seamless liquidity flows between exchanges while offering institutional-grade security, transparency, and efficiency.

BRL1

The Monerium EURe is the first fully authorized and regulated euro stablecoin. Visit https://monerium.com to learn how to transfer EURe cross-chain or between your wallet and any bank account.

NYALA is a tokenization platform that covers the full lifecycle of digital assets, from issuance and distribution to transfers and interests payouts on-chain. It is licensed to issue fully regulated tokenized securities in the European Union such as bonds and equities.

Furthermore, NYALA's co-listing network connects issuers to distribution channels. We connect issuers, crowdfunding and online investment platforms with each other, which allows them to source more projects and distribute digital assets on several platforms at once to tap into new investor bases. 

NYALA is headquartered in Berlin, Germany.

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

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)

Quantoz is a regulated Dutch fintech company pioneering digital currency solutions in Europe. Quantoz offers electronic money tokens, including closed-loop EURD and open-loop EURQ and USDQ stablecoins, enabling businesses to move money faster, cheaper, and more securely. Operating under Dutch Central Bank supervision, Quantoz combines blockchain efficiency with Tier 1 banking security and European regulatory compliance.


Schuman Financial is the leading provider of technologies, infrastructure, and solutions for European stablecoin-based finance. We are bringing European and euro-denominated financial services on-chain. Our core product is EURØP, a euro-denominated stablecoin issued by our French-licensed subsidiary regulated by Banque de France. 

Lemonaid Beverages GmbH is a Hamburg‑based social business founded in 2009. It produces certified organic and Fairtrade soft drinks and iced teas, with each purchase contributing to social and ecological projects in the ingredient growing regions via the Lemonaid & ChariTea Foundation.

Lemonaid

Tomorrow GmbH offers a fully digital, sustainability‑focused banking experience powered by Solaris SE, a licensed and BaFin‑supervised bank. Customers open an account via the Tomorrow app, and all deposited funds are exclusively invested in social or ecological projects—never in fossil fuels, weapons, or factory farming.

Tomorrow Bank

NRW.Bank is the state development bank of North Rhine‑Westphalia, Germany, serving as the official promotional bank for the region. It delivers low‑interest funding, equity financing, and advisory services to support economic, social, structural, and housing development in NRW.

NRW.BANK

KfW Bankengruppe is one of the world’s leading promotional banks, established in 1948 on behalf of the German federal government and federal states, committed to improving economic, social, and environmental living conditions globally. It does not operate retail branches or hold customer deposits, instead financing its promotional mandate, such as support for SMEs, climate-friendly housing, education, export projects, and international development, via the capital markets.

KFW Bankengruppe

Enterprise-grade solutions to digitalize real-world assets with blockchain infrastructure.

AllUnity is a regulated e-money institute building Europe’s digital payments infrastructure for
instant cross-border payments, digital asset markets, and seamless liquidity flows. Established
by DWS, Flow Traders, and Galaxy, AllUnity delivers fully backed, MiCAR-compliant stablecoins
(EURAU and CHFAU) that provide regulatory certainty and robust reserve backing for secure,
frictionless capital movement across markets.

AllUnity

Beself Brands, the group of home and lifestyle specialist brands that helps you discover and experience what’s best inside you, the best part of you.

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

Solowin

The integrated digital infrastructure enabling Asset Managers and Investment Partners to seamlessly navigate and scale in the evolving private markets.

Securitize Capital Hamilton Lane EOV Tokenized Fund

Smart real estate investing.

Multiply your money in exclusive global real estate projects, facilitating access to premium real estate. Access unique opportunities and generate monthly returns with total control, backed by advanced technology. Safe, cost-effective and efficient.

Operal AG is a Swiss impact-focused tech company that uses gaming, loyalty and Web3 to “gamify” climate and sustainability actions.

Operal

Denario is a Swiss RWA issuer that tokenizes physical silver and gold into legally enforceable, 1:1-backed digital assets. Each token (DSC/DGC) equals 1 oz of 999.9 granules held segregated and insured in Swiss freeport vaults, with no ongoing custody or management fees. Designed for DeFi, Denario provides on-chain price feeds, proof-of-reserves, and multi-chain access for saving, collateral, and liquidity use cases.

Tokens
- Denario Silver Coin (DSC) and Denario Gold Coin (DGC)
- Each token = 1 troy oz of 999.9 granules
- Direct, legally enforceable co-ownership of the underlying metal
- No ongoing custody or management fees

Compliance:
The company is a member of the VQF SRO under FINMA’s AML regime. Legal design follows Swiss DLT property law.

Collateral, Storage & Audits
Physical silver and gold are held segregated and insured in a high-security duty-free vaults in Switzerland. Holdings are audited twice per year. On-chain proof-of-reserves and price oracles (USD/EUR/CHF) support transparency.

Chains & Integrations
Native issuance on Polygon; bridged to other chains via LayerZero/Wormhole. Designed for DeFi: collateralization, liquidity programs, and integrations with RWA/stablecoin protocols.

Operations
Mint/burn against physical inventory; redemption available per terms. KYC tiers: simplified onboarding up to CHF 1,000 per month, full KYC beyond.

Denario

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

PT Rupiah Token Indonesia

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

Agri-fintech behind Cropto, a platform that tokenizes physical agricultural commodities (e.g., wheat, corn, hazelnuts) stored in audited warehouses; operates CroptoDEX and publishes storage/audit materials.

SoFi became the first full-service financial technology startup to receive a formal U.S. banking license as well as the first nationally chartered consumer bank in the U.S. to offer cryptocurrency trading. Offers digital-first consumer banking including lending, deposits, investing, and crypto services. FDIC-insured, NMLS #696891. Subsidiary of SoFi Technologies, Inc. (NASDAQ: SOFI).

SoFi Bank

Franklin Templeton Trust

United States of America

British Virgin Islands

Germany

Liechtenstein

Switzerland

United Kingdom

Hong Kong

Singapore

Bermuda

Australia

France

El Salvador

Turkey

Brazil

The Bahamas

Netherlands

European Union

Polygon

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.

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

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.

Mercado Bitcoin is the largest crypto exchange in Brazil and the largest issuer of digital fixed income in Latin America. They set up the first digital investment bank in Brazil.

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.

Aktionariat is a Swiss based platform for issuing, managing, and enabling secondary trading of tokenized shares for private companies.

Agora Ledger builds infrastructure for digital dollars—letting businesses mint and manage dollar tokens (e.g., AUSD) and connect them to both DeFi and traditional payment rails.

KAIO is an institutional-grade Web3 protocol, created by WebN Group and Nomura’s Laser Digital, that enables compliant tokenization and lifecycle management of alternative investment funds. It connects asset managers with distributors while providing access to tokenized hedge funds, money market funds, and private credit strategies from managers like Brevan Howard, BlackRock, and Hamilton Lane. Through its KAIO Gateway, the platform extends these assets across multiple blockchains, offering services such as collateralized lending, automated rebalancing, and programmable compliance.

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.

BitGo

The USDT0 Network operates on a robust lock-and-mint mechanism powered by the Omnichain Fungible Token (OFT) standard. This system ensures secure and efficient cross-chain transfers while maintaining full asset backing across all USDT0 products.

Cashlink Technologies is a regulated financial institution offering Europe's leading token-based capital market infrastructure. Cashlink provides comprehensive services for issuing and settling token-based securities, fully licensed as a crypto securities registrar and crypto custodian. By connecting issuer, brokers, custodian banks and trading venues via its regulated Cashlink connect infrastructure Cashlink scales token-based Capital Markets. 

Backed by prominent venture capital investors like TX Ventures and strategic investors such as Helaba, Cashlink actively shapes the future of capital markets. This engagement includes participation in forums like the Digital Finance Forum of the German Government and founding memberships in associations such as the Bundesverband der Kryptowertpapierregisterführer. Cashlink is also a three-time winner of the FinTech Germany Award and is based in Frankfurt am Main, Germany.

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

AlloyX (now AlloyX Group, NASDAQ: AXG) builds infrastructure for stablecoin payments and RWA tokenization for institutions—think fiat-to-stablecoin rails and embedded wallets—following its Sept. 2025 acquisition by Solowin and subsequent ticker change to AXG.

Tokengate is a Swiss tokenization SaaS platform from DSENT that helps issuers launch and manage tokenized assets (issuance, KYC/AML, payments, investor lifecycle) from its base in Zug.

Decentralized tokenization system operated by AgriFintech (Cropto)

Backed Finance is a blockchain tokenization company that converts traditional financial assets.

Apollo Diversified Credit Securitize Fund

AUDAX01 - AUDAX CAPITAL SECURITIZADORA S.A

AUDAX02 - AUDAX CAPITAL SECURITIZADORA S.A

AUDAX03 - AUDAX CAPITAL SECURITIZADORA S.A

Backed GOVIES 0-6 Months Euro Investment Grade

Backed CSBGC3 CHF Swiss Domestic Government Bond 0-3yr

BINVEST01 - BINVEST SECURITIZADORA DE CREDITOS SA

BINVEST02 - BINVEST SECURITIZADORA DE CREDITOS SA

BINVEST03 - BINVEST SECURITIZADORA DE CREDITOS SA

BINVESTYIELD01 - BINVEST SECURITIZADORA DE CREDITOS SA

BOLT01 - BOLT ENERGY COMERCIALIZADORA DE ENERGIA LTDA

BOLT02 - BOLT ENERGY COMERCIALIZADORA DE ENERGIA LTDA

BOLT05 - BOLT ENERGY COMERCIALIZADORA DE ENERGIA LTDA

CARTAO02 - COONEX PRODUTOS E SOLUCOES LTD


CARTAO03 - COONEX PRODUTOS E SOLUCOES LTD


CARTAO04 - COONEX PRODUTOS E SOLUCOES LTD


CARTAOSUB02 - COONEX PRODUTOS E SOLUCOES LTD


Blackrock ICS US Dollar Liquidity Fund (Kaio Tokenized)

CHILLI01 - CHILLI BEANS COMERCIO DE PRODUTOS LTDA.

CHILLI02 - CHILLI BEANS COMERCIO DE PRODUTOS LTDA.

CHILLI03 - CHILLI BEANS COMERCIO DE PRODUTOS LTDA.

CHILLI04 - CHILLI BEANS COMERCIO DE PRODUTOS LTDA.

CONSRC01 - ITAU ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC02 - RANDON SA IMPLEMENTOS E PARTICIPACOES

CONSRC03 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC04 - ITAU ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC05 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC06 - PORTO SEGURO ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC07 - ADMINISTRADORA DE CONSORCIO UNICOOB LTDA

CONSRC08 - ITAU ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC09 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC10 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC11 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC12 - ITAU ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC13 - ITAU ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC14 - PORTO SEGURO ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC15 - PORTO SEGURO ADMINISTRADORA DE CONSORCIOS LTDA

CONSRC16 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC17 - SANTANDER BRASIL ADMINISTRADORA DE CONSORCIO LTDA

CONSRC18 - CONSORCIO NACIONAL VOLKSWAGEN - ADMINISTRADORA DE CONSORCIO LTDA

#	Platform	RWA Count	Total Value	30D%	Market Share
1	Polygon Bridge	2	$1.5B	Login to Unlock	Login to Unlock
2	USDT0	1	$713.4M	Login to Unlock	Login to Unlock
3	Circle	1	$563.6M	Login to Unlock	Login to Unlock
4	Spiko	9	$162.7M	Login to Unlock	Login to Unlock
5	Cashlink	4	$114.9M	Login to Unlock	Login to Unlock
6	Reental	58	$79.6M	Login to Unlock	Login to Unlock
7	Beself Brands, SA	1	$47.4M	Login to Unlock	Login to Unlock
8	Securitize	5	$15.4M	Login to Unlock	Login to Unlock
9	EVIDENT	3	$14.9M	Login to Unlock	Login to Unlock
10	Transfero	1	$10.9M	Login to Unlock	Login to Unlock

Polygon

Asset Type

Metric