Stellar Surpasses $46B in On-Chain Tokenized Assets Amid Institutional Adoption

Tokenized real-world assets on blockchain networks have reached a significant milestone, with global on-chain RWA market capitalization surpassing $46.2 billion. This growth has been driven by institutional adoption, with money market funds and treasury products becoming increasingly popular.

Stellar is one of the top-performing chains in this space, with a tokenized asset market cap of over $3.3 billion. A closer look at Stellar's RWA balance sheet reveals that two assets, eurSAFO and USDY, account for nearly half of its total tokenized assets.

eurSAFO, an Amundi overnight swap fund denominated in euros, is the largest RWA on Stellar with over $1.1 billion in value. This suggests that demand for Stellar's services is not limited to U.S. dollar-based products. USDY, a yield-bearing dollar token from Ondo Finance, ranks second with around $535 million in value.

The growth of Stellar's RWA market cap can be attributed to the network's increasing utility. MoneyGram's stablecoin-backed Visa card, launched on Stellar this month, has provided users with the ability to spend their tokens directly at merchant locations using the Visa network. This development marks a significant milestone for blockchain-native money.

Another key factor contributing to Stellar's growth is its partnership with Zebec and MoneyGram to expand into enterprise payroll. This collaboration enables employees and contractors to receive stablecoin payroll, which can then be converted to local currency at a MoneyGram location. This closes the gap that has historically made crypto payroll impractical for workers without easy access to banks or exchanges.