SKN | Stellar’s Tokenized RWA Market Surges 360% to Nearly $4 Billion in 2026

Key Points

• Stellar’s tokenized real-world asset market has grown roughly 360% in 2026, reaching $3.996 billion as of Aug. 29.
• Spiko, Realiz, Tradable, Franklin Templeton and Ondo account for most of the network’s RWA value.
• Institutional initiatives involving DTCC, Tradable and MoneyGram are expanding Stellar’s role across tokenized securities, private credit and digital payments.

Stellar’s tokenized real-world asset market has expanded more than fourfold this year, underscoring the accelerating shift from experimental blockchain applications toward institutional financial infrastructure. The network’s RWA market reached $3.996 billion as of Aug. 29, compared with $868.8 million at the end of 2025, according to a Dune Analytics dashboard maintained by Stellar.

The roughly 360% increase comes as financial institutions and tokenization platforms expand their use of Stellar across government debt, private credit, Treasurys and payment-related assets. Yet the growth of assets on the network has not translated directly into gains for its native cryptocurrency.

Five issuers dominate Stellar’s RWA market

Stellar’s tokenized asset ecosystem remains concentrated among several major issuers. Spiko represented approximately $1.55 billion of the network’s RWA value as of Aug. 27, followed by Realiz at $559 million, Tradable at $548 million, Franklin Templeton at $546 million and Ondo at $535 million.

The composition reflects the growing diversity of assets being brought onchain. US Treasurys and credit products remain important components, while Stellar has also established a growing presence in non-US government debt.

The Stellar Development Foundation, citing RWA.xyz data, said the network held approximately $490 million in non-US government debt as of Aug. 20. That figure included tokenized Mexican CETES and Brazilian government bonds issued through Etherfuse.

The expansion suggests tokenization is increasingly moving beyond simply putting existing securities onto blockchain infrastructure. Networks are competing to provide the settlement, compliance and asset-management infrastructure required throughout an asset’s lifecycle.

Institutional adoption accelerates

Institutional activity has been a major driver of Stellar’s growth.

In May, the Depository Trust & Clearing Corporation announced plans to connect its tokenization service to Stellar, with DTC-tokenized assets expected to become available on the network during the first half of 2027. The planned integration could eventually support tokenized US Treasurys, major index ETFs and stocks in the Russell 1000.

Tradable added another significant commitment in July, announcing plans to bring as much as $1 billion in private-credit assets to Stellar. The platform has already tokenized $1.7 billion in private credit across nearly 30 positions, with the Stellar integration designed to support compliance, investor onboarding and asset lifecycle management.

The network is also building its position in digital payments. MoneyGram launched its MGUSD dollar stablecoin on Stellar in June, allowing users to hold dollar-denominated balances and transfer funds through MoneyGram’s payments infrastructure. Stellar’s Dune dashboard showed roughly $438 million in reserve-verified stablecoins on the network.

RWA growth outpaces XLM performance

Stellar’s expanding institutional footprint has so far contrasted with the performance of its native XLM token. XLM was trading near $0.18 and remained down approximately 11% year to date, according to CoinGecko data.

That divergence is important for investors. Growth in tokenized assets can increase blockchain utilization and strengthen a network’s institutional relevance without necessarily producing an immediate increase in demand for its native token.

For Stellar, the next stage will depend on whether announced institutional integrations translate into sustained transaction activity and larger pools of tokenized capital. With DTCC’s planned connection, Tradable’s private-credit expansion and continued stablecoin development, the network is positioning itself for a broader role in regulated digital finance. The opportunity is substantial, but the market will increasingly judge Stellar not simply by the value of assets issued onchain, but by the depth, liquidity and real-world activity generated by those assets.