Stellar's Tokenized RWA Market Surges to $4 Billion in Value

Stellar's tokenized real-world assets (RWAs) market has reached nearly $4 billion in value, according to data from Dune Analytics. This represents a 360% increase over the past year and marks a significant acceleration in the adoption of on-chain issuance for debt and government-linked instruments.

The majority of the RWA value on Stellar is concentrated among a handful of participants, with Spiko holding about $1.55 billion, followed by Realiz, Tradable, Franklin Templeton, and Ondo. Non-US government debt is gaining traction, with Stellar holding roughly $490 million as of August 20, including tokenized Mexican CETES and Brazilian bonds issued via Etherfuse.

The growth in RWAs on Stellar is driven by institutional integrations, including the planned connectivity between DTCC's tokenization service and the Stellar network. This integration could bring tokenized assets to Stellar in the first half of 2027. Additionally, Tradable plans to bring up to $1 billion in private credit assets to Stellar.

Despite the rapid expansion in tokenized assets, Stellar's native token XLM has struggled to keep pace, with a year-to-date decline of about 11%. This divergence highlights that blockchain ecosystem metrics and token performance do not always move together in the short term.