Tokenization Platforms

Analyze key performance indicators across tokenization platforms powering tokenized real-world assets. Learn more about tokenized RWAs on the RWA.xyz Research Blog.

Distributed Asset Value

$19.08B

▲+3.08%from 30d ago

Represented Asset Value

$261.15B

▼8.81%from 30d ago

Stablecoin Value

$298.51B

▼0.31%from 30d ago

Total RWA Holders

594,326

▲+7.18%from 30d ago

Total Stablecoin Holders

214.82M

▲+4.46%from 30d ago

Total Platforms

129

Platform Metrics

Asset Type

Metric

Include Stablecoins

Include stablecoins, cash and cash-equivalents

Platform Asset Value

Include Stablecoins

Asset Type

Distributed assets use the blockchain as a distribution layer, enabling onchain investors to subscribe, hold, and manage assets directly through their own wallets or custodians.

as of 12/30/2025

Top Net Flows

As of 12/30/2025

Include Stablecoins

Distributed Platforms

114 Total

Platforms that issue tokens using the blockchain as a distribution layer, enabling onchain investors to subscribe, hold, and manage assets directly through their own wallets or custodians.

#	Name	RWA Count	RWA Total Value (Excl. Stablecoins)	RWA Holders	Offered Asset Classes	Supported Networks

#	Name	RWA Count	RWA Total Value (Excl. Stablecoins)	RWA Holders	Offered Asset Classes	Supported Networks
1	Securitize	21	$3,115,809,778 ▼	1,736 ▲	U.S. Treasuries Institutional Funds+2 more	+4 more
2	Maple	16	$2,035,862,038 ▲	4,101 ▲	Private Credit U.S. Treasuries
3	Ondo	105	$1,916,029,958 ▲	44,441 ▲	U.S. Treasuries Stocks+1 more	+2 more
4	Tether Holdings	1	$1,763,425,191 ▲	19,760 ▲	Stablecoins Commodities
5	Paxos	1	$1,630,922,173 ▲	87,075 ▲	Stablecoins Commodities
6	Circle	1	$1,371,441,879 ▲	56 ▼	Stablecoins U.S. Treasuries	+8 more
7	Centrifuge	4	$1,333,934,362 ▼	21 ▼	Institutional Funds U.S. Treasuries+1 more
8	Libeara	14	$1,021,328,455 ▼	34 ▲	U.S. Treasuries Non-U.S. Government Debt
9	Superstate	2	$925,447,848 ▼	141 ▲	U.S. Treasuries Institutional Funds
10	Franklin Templeton Benji Investments	1	$811,270,530 ▼	962 ▲	U.S. Treasuries
11	WisdomTree	15	$769,040,017 ▲	2,114 ▲	U.S. Treasuries Stocks+3 more
12	Spiko	5	$714,044,319 ▲	2,582 ▲	Non-U.S. Government Debt U.S. Treasuries+1 more
13	Backed Finance (xStocks)	84	$240,178,003 ▲	111,546 ▲	Stocks U.S. Treasuries+2 more
14	Midas	3	$184,751,989 ▲	3,134 ▲	Institutional Funds U.S. Treasuries+1 more
15	Theo	1	$160,593,395 ▼	326 ▲	U.S. Treasuries	Ethereum
16	Resolv	1	$145,439,466 ▲	5,443 ▼	Stablecoins Actively Managed Strategies	Ethereum
17	OpenEden Digital	1	$108,213,979 ▼	58 ▲	U.S. Treasuries Stablecoins
18	RedSwan Digital Real Estate	8	$107,962,800 △	0 △	Real Estate	Stellar
19	Pareto	4	$93,368,095 ▲	35 △	Private Credit Stablecoins	Ethereum
20	OpenTrade (Perimeter Protocol)	16	$88,616,196 ▲	45 ▲	U.S. Treasuries Private Credit+1 more

Showing 1 to 20 of 114 results

Represented Platforms

15 Total

Platforms that issue tokens using the blockchain as a recordkeeping layer, enhancing transparency, reconciliation, and operational efficiency without enabling onchain investor transfer or distribution.

#	Name	RWA Count	RWA Total Value (Excl. Stablecoins)	Offered Asset Classes	Supported Networks

#	Name	RWA Count	RWA Total Value (Excl. Stablecoins)	Offered Asset Classes	Supported Networks
1	Broadridge DLR	9,131	$241,644,654,681 ▼	Repurchase Agreements	Canton
2	Figure	1	$14,373,205,445 ▲	Private Credit	Provenance
3	Tradable	46	$2,302,608,838 ▲	Private Credit	ZKsync Era
4	PACT	7	$602,055,405 ▼	Private Credit	Aptos
5	Justoken	5	$483,634,004 ▼	Commodities Private Credit	Polygon
6	Intain	2	$431,881,634 △	Private Credit	Intain
7	Tokeny	2	$283,972,388 △	Institutional Funds	Avalanche C-Chain
8	Fidelity Investments	1	$264,067,137 ▲	U.S. Treasuries	Ethereum
9	VERT Capital	8	$257,383,742 ▲	Private Credit	XRP Ledger
10	MB \| Mercado Bitcoin	651	$190,724,379 ▼	Private Credit Stablecoins	R
11	Ctrl Alt	19	$124,552,015 ▼	Real Estate
12	Cashlink	3	$121,809,597 ▼	Corporate Bonds	Polygon
13	Sygnum Bank	1	$46,829,589 ▲	U.S. Treasuries	ZKsync Era
14	T-RIZE Group	1	$23,000,000 △	Real Estate	Base
15	Arca Labs	1	$440,028 ▲	U.S. Treasuries	Ethereum

Showing 1 to 15 of 15 results

Stablecoin Platforms

70 Total

Platforms that issue stablecoins or synthetic assets designed to represent the value of national currencies (e.g., the U.S. dollar), facilitating onchain payments, settlement, and liquidity.

#	Name	Stablecoin Asset Count	Stablecoins Market Cap	Stablecoin Holders	Offered Asset Classes	Supported Networks

#	Name	Stablecoin Asset Count	Stablecoins Market Cap	Stablecoin Holders	Offered Asset Classes	Supported Networks
1	Tether Holdings	5	$177,829,501,045 ▲	112,308,083 ▲	Stablecoins Commodities
2	Circle	2	$73,402,518,086 ▼	27,674,325 ▲	Stablecoins U.S. Treasuries	+8 more
3	MakerDAO	1	$10,150,454,104 ▲	702,488 ▲	Stablecoins	Ethereum
4	Binance	2	$9,291,342,433 ▼	47,272,763 ▲	Stablecoins	BNB Chain
5	Ethena	2	$7,199,608,442 ▼	342,311 ▲	Stablecoins
6	Paxos	5	$5,154,052,945 ▲	525,788 ▲	Stablecoins Commodities
7	BitGo	1	$3,231,907,527 ▲	495,867 ▲	Stablecoins
8	Polygon Bridge	3	$2,244,278,340 ▲	13,906,791 ▲	Stablecoins	Polygon
9	Falcon Finance	1	$2,219,898,077 ▲	12,285 ▼	Stablecoins
10	RLUSD	1	$1,357,890,810 ▲	39,874 ▲	Stablecoins
11	Arbitrum L1 Custom Gateway	2	$1,094,998,564 ▲	4,845,766 ▼	Stablecoins	Arbitrum
12	M0	1	$865,087,717 ▲	76 ▲	Stablecoins
13	Usual	1	$541,570,179 ▼	126,544 ▲	Stablecoins	Ethereum
14	First Digital Labs	1	$527,460,741 ▼	62,971 ▼	Stablecoins
15	USDai Protocol	1	$499,441,157 ▲	4,615 ▼	Stablecoins	Arbitrum
16	Aave	1	$484,918,565 ▲	7,757 ▲	Stablecoins	Ethereum
17	Resolv	1	$328,815,786 ▲	11,353 ▼	Stablecoins Actively Managed Strategies	Ethereum
18	Solstice	1	$309,593,154 ▼	26,646 ▼	Stablecoins	Solana
19	Frax Finance	1	$278,136,807 ▼	13,729 ▲	Stablecoins	Ethereum
20	Optimism Bridge	2	$249,868,052 ▼	3,942,532 ▲	Stablecoins	Optimism

Showing 1 to 20 of 70 results

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