Tokenized Equities Dominate On-Chain Market

Tokenized equities have seen significant growth in their market share, tripling to 15% from the start of the year. This represents one of the few categories in the RWA (Regulatory Asset) space that has experienced an increase in interest, particularly among retail investors looking for on-chain equity trading options. Total market capitalization currently sits at approximately $2.8 billion.

RWA transfer volume has also surged, doubling to $20 billion in August, up from $9 billion the previous month. Despite accounting for a relatively small share of the overall RWA market, tokenized equities have become a popular entry point for on-chain applications.

Three major players - Ondo Finance, Binance's bStock, and xStocks - have emerged in the market, collectively capturing 77% of the market share. Ondo Finance leads with $957 million, followed by bStock at $622 million and xStocks at $600 million.