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

$18.45B

▼0.23%from 30d ago

Represented Asset Value

$391.66B

▼8.07%from 30d ago

Stablecoin Value

$308.87B

▲+1.23%from 30d ago

Total RWA Holders

564,846

▲+6.23%from 30d ago

Total Stablecoin Holders

208.17M

▲+3.24%from 30d ago

Total Platforms

124

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 12/10/2025

Top Net Flows

As of 12/10/2025

Include Stablecoins

Distributed Platforms

109 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	$3,282,377,298 ▼	1,737 ▲	U.S. Treasuries Institutional Funds+2 more	+4 more
2	Maple	16	$2,240,247,771 ▲	3,668 ▲	Private Credit U.S. Treasuries
3	Ondo	105	$1,828,516,614 ▲	38,838 ▲	U.S. Treasuries Stocks+1 more	+2 more
4	Tether Holdings	1	$1,632,322,137 ▲	17,830 ▲	Stablecoins Commodities
5	Paxos	1	$1,429,169,258 ▲	84,296 ▲	Stablecoins Commodities
6	Centrifuge	4	$1,363,748,424 ▲	22 △	Institutional Funds U.S. Treasuries+1 more
7	Circle	1	$1,288,254,351 ▲	57 ▲	Stablecoins U.S. Treasuries	+8 more
8	Libeara	14	$1,064,807,276 ▲	33 ▲	U.S. Treasuries Non-U.S. Government Debt
9	Superstate	2	$913,811,356 ▼	135 ▼	U.S. Treasuries Institutional Funds
10	Franklin Templeton Benji Investments	1	$821,164,440 ▼	943 ▲	U.S. Treasuries
11	WisdomTree	15	$765,093,316 ▲	2,058 ▲	U.S. Treasuries Stocks+3 more
12	Spiko	5	$563,111,144 ▲	3,643 ▲	Non-U.S. Government Debt U.S. Treasuries+1 more
13	Backed Finance (xStocks)	71	$204,732,255 ▲	97,679 ▲	Stocks U.S. Treasuries+2 more
14	Theo	1	$204,234,181 ▲	320 ▲	U.S. Treasuries	Ethereum
15	Midas	3	$157,550,515 ▼	3,124 ▼	Institutional Funds U.S. Treasuries+1 more
16	OpenEden Digital	1	$116,985,784 ▼	56 ▲	U.S. Treasuries Stablecoins
17	Resolv	1	$96,992,254 ▲	5,486 △	Stablecoins Actively Managed Strategies	Ethereum
18	Archax	6	$70,967,931 ▲	8 ▲	Private Equity U.S. Treasuries+1 more
19	Matrixdock	2	$57,704,654 ▲	64,925 ▲	Commodities U.S. Treasuries
20	KAIO	5	$51,096,212 ▲	19 ▲	U.S. Treasuries Institutional Funds

Showing 1 to 20 of 109 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	$372,681,446,987 ▼	Repurchase Agreements	Canton
2	Figure	1	$14,064,216,015 ▲	Private Credit	Provenance
3	Tradable	39	$2,064,500,062 ▼	Private Credit	ZKsync Era
4	PACT	7	$599,910,115 ▼	Private Credit	Aptos
5	Justoken	4	$492,594,335 ▲	Commodities	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	Cashlink	3	$236,826,835 ▲	Corporate Bonds	Polygon
10	MB \| Mercado Bitcoin	650	$210,675,069 ▲	Private Credit Stablecoins	R
11	VERT Capital	5	$138,278,833 ▲	Private Credit	XRP Ledger
12	Ctrl Alt	19	$124,561,579 △	Real Estate
13	Sygnum Bank	1	$46,727,648 ▲	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	$184,702,393,539 ▲	109,085,085 ▲	Stablecoins Commodities
2	Circle	2	$77,029,812,604 ▲	26,361,037 ▲	Stablecoins U.S. Treasuries	+8 more
3	MakerDAO	1	$10,132,726,759 ▲	684,908 ▲	Stablecoins	Ethereum
4	Binance	2	$9,298,382,152 ▲	45,585,947 ▲	Stablecoins	BNB Chain
5	Ethena	2	$7,760,935,619 ▼	341,474 ▲	Stablecoins
6	Paxos	5	$5,145,651,825 ▲	523,018 ▲	Stablecoins Commodities
7	BitGo	1	$2,702,047,121 ▼	468,008 ▲	Stablecoins
8	Falcon Finance	1	$2,188,489,725 ▲	12,499 ▲	Stablecoins
9	Polygon Bridge	3	$2,160,668,621 ▲	13,604,472 ▲	Stablecoins	Polygon
10	RLUSD	1	$1,293,100,400 ▲	39,325 ▲	Stablecoins
11	Arbitrum L1 Custom Gateway	2	$1,063,469,487 ▲	4,991,182 ▲	Stablecoins	Arbitrum
12	M0	1	$847,576,283 ▲	76 △	Stablecoins
13	First Digital Labs	1	$845,376,373 ▼	64,919 ▲	Stablecoins
14	Usual	1	$548,149,383 ▲	126,596 ▲	Stablecoins	Ethereum
15	USDai Protocol	1	$470,918,026 ▲	4,640 ▲	Stablecoins	Arbitrum
16	Aave	1	$431,708,250 ▲	7,540 ▲	Stablecoins	Ethereum
17	Solstice	1	$326,445,212 ▲	27,895 ▲	Stablecoins	Solana
18	Frax Finance	1	$281,732,717 ▼	13,694 ▲	Stablecoins	Ethereum
19	Optimism Bridge	2	$247,630,453 ▼	3,941,700 ▼	Stablecoins	Optimism
20	Resolv	1	$180,620,646 ▼	11,378 ▼	Stablecoins Actively Managed Strategies	Ethereum

Showing 1 to 20 of 70 results

Data Partners Blog Terms of Use Privacy Policy