Franklin Templeton Benji Investments

WisdomTree

Spiko

Etherfuse

Bitbond

Ondo

US Treasury Debt

Public Equity

non-US Government Debt

Corporate Bonds

Commodities

Institutional Alternative Funds

WisdomTree Digital Management

Twenty First Capital

Circle

AUDC Pty Ltd

Paxos

GMO Trust

Stasis

Mesh

Brale

Stablecoins

Stellar is an open-source, decentralized blockchain network designed to facilitate fast and low-cost cross-border transactions between any pair of currencies or assets. Launched in 2014 by Jed McCaleb, it uses a unique Stellar Consensus Protocol and its native cryptocurrency XLM (Lumens) to bridge traditional financial systems with digital currencies, enabling efficient global payments and remittances.

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.

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

WisdomTree Short-Term Treasury Digital Fund

Franklin Templeton

WisdomTree Floating Rate Treasury Digital Fund

WisdomTree Long Term Treasury Digital Fund

WisdomTree 7-10 Year Treasury Digital Fund

WisdomTree 3-7 Year Treasury Digital Fund

WisdomTree TIPS Digital Fund

WisdomTree Government Money Market Digital Fund

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.

AUDC is the issuer of the AUDD – Australian Digital Dollar, a 1:1 AUD-backed stablecoin. AUDC's technology delivers fast, cost-effective payments for businesses, institutions, and various use cases.

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

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.

WisdomTree Digital Holdings

GMO Trust was established in 2020 and is a wholly-owned subsidiary of GMO Internet Group Inc. Regulated by the New York Department of Financial Services, GMO Trust empower businesses and individuals worldwide with financial-grade digital assets.

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.

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

WisdomTree 500 Digital Fund

WisdomTree Technology & Innovation 100 Digital Fund

WisdomTree Siegel Global Equity Digital Fund

WisdomTree Siegel Moderate Digital Fund

WisdomTree Siegel Longevity Digital Fund

WisdomTree Short-Duration Income Digital 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

Mesh is a digital capital markets platform for raising capital and trading capital markets assets. It is a multisided platform that connects issuers and investors directly to each other in a trusted way, facilitating easy interaction as well as secure, efficient and cost-effective trade. 

Using the best of leading-edge blockchain technology, Mesh has removed many of the traditional barriers to entry, eliminated excessive participation costs, and made capital raising and investing much more efficient for all market participants.

Mesh Trade SA (Pty) Ltd is a licensed Financial Services Provider (53710) and an Accountable Institution registered with the Financial Intelligence Centre.

WisdomTree Private Credit and Alternative Income Digital Fund

Bitbond is the leading tokenization infrastrcuture provider – our no-code smart contract generator Token Tool serves thousands of users globally.

United States of America

Germany

Liechtenstein

Australia

Switzerland

France

Luxembourg

European Union

Stellar

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.

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.

Stablecorp Digital Currencies Inc. 

Franklin OnChain U.S. Government Money Fund

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	Franklin Templeton Benji Investments	1	$557.6M	▼4.04%	60.28% ▼
2	Circle	2	$281.4M	▲15.75%	30.42% ▲
3	WisdomTree	15	$33.7M	▲0.16%	3.64% ▼
4	Spiko	4	$33.2M	▲56.29%	3.59% ▲
5	AUDC Pty Ltd	1	$6.2M	▲22.40%	0.67% ▲
6	Etherfuse	3	$4.9M	▲2.81%	0.53% ▲
7	Paxos	1	$3.4M	▼53.08%	0.37% ▼
8	GMO Trust	2	$1.3M	▲3.52%	0.14% ▲
9	Stasis	1	$1.1M	▲1.63%	0.12% ▼
10	Ondo	1	$1.0M	▲0.29%	0.11% ▼

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