Tokenized Treasuries Top $15B Across 18 Blockchains

The market for tokenized U.S. Treasury assets has grown to $15.2 billion across 18 different blockchain networks, according to data from Token Terminal.

Ethereum holds the largest share at 43.2%, followed by BNB Chain at 31.5% and Stellar at 7.5%. This growth is driven by both institutional and retail investors seeking stable, yield-bearing assets within the crypto ecosystem.

The demand for on-chain yield has increased, particularly as decentralized finance (DeFi) platforms look for stable collateral. Traditional financial institutions are also exploring ways to bridge conventional assets with blockchain infrastructure, making tokenized government securities an attractive entry point.