Tokenized stocks are nearing 4 billion dollars on the crypto market. Their value reached 3.84 billion dollars in a report published on October 28, before settling around 3.74 billion on RWA.x
Tokenized stocks are nearing 4 billion dollars on the crypto market. Their value reached 3.84 billion dollars in a report published on October 28, before settling around 3.74 billion on RWA.xyz. The sector now includes 4.51 million holder addresses. Apple, Microsoft, and Nvidia are also represented on the blockchain, with tokens now able to serve as collateral to borrow stablecoins.
The tokenized stocks market has almost reached a new symbolic threshold. According to data from RWA.xyz, their distributed value stands at 3.74 billion dollars, up 17.79% over thirty days. In early October, BNB Chain already represented nearly 30% of the tokenized stocks market.
The growth is accompanied by an increase in the number of holders. RWA.xyz now counts 4.51 million addresses, 12.14% more than a month earlier. This figure represents crypto wallets, not necessarily as many different investors.
The market has also grown since January. At the beginning of the year, the distributed value of tokenized stocks did not exceed 1 billion dollars. Several crypto platforms now offer blockchain versions of US securities, as well as ETFs tracking major stock indices.
Transactions are numerous. The monthly transfer volume reaches 10.14 billion dollars. However, this amount should not be confused with the value of assets actually held. Another interesting figure: active addresses over thirty days have dropped to about 2.12 million, a decrease of 39.68% compared to the previous period. Asset value is therefore increasing while some activity indicators are declining.
Secure your cryptos with SafePalThis link uses an affiliate program.The ranking of crypto platforms has also evolved. bStocks now leads with about 1.4 billion dollars of distributed value, according to RWA.xyz. Ondo Finance follows with 930.9 million dollars. xStocks, the infrastructure used notably by Kraken, completes the podium with 623 million.
The ranking is as follows:
Platform Distributed Value bStocks $1.4B Ondo $930.9M xStocks $623M Securitize $281M Reality $156.7MTogether, bStocks, Ondo, and xStocks represent nearly 3 billion dollars, about 79% of the total value counted. For bStocks, the start is fast. The crypto platform notably relies on BNB Chain, where tokenized stocks have gained an important place these last months. On September 21, Binance had already expanded the use of bStocks tokenized stocks as collateral for its margin accounts.
At that time, the range had exceeded 30 billion dollars in cumulative volume in less than 90 days. Ondo, for its part, continues to expand its catalog of financial assets. RWA.xyz lists 431 products associated with its platform, compared to 99 for bStocks. xStocks shows more, with 1,471 references in the dashboard. These differences remind us that a large catalog alone does not guarantee a first place in value.
Tokenized stocks are no longer only used to buy and sell shares. Since September 25, seven US tokenized stocks issued by the crypto exchange Coinbase are accepted on Aave V4, deployed on Base, the Ethereum Layer 2 network supported by Coinbase.
The companies involved are Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla. Eligible users, located outside the United States in authorized jurisdictions, can deposit these tokens as collateral and borrow USDC.
A person holding a tokenized version of Apple can thus mobilize their asset within a crypto protocol without necessarily having to sell it. However, an important legal distinction exists.
Apple and Microsoft have not themselves transferred their shares onto the blockchain. The tokens are issued by Coinbase Onchain SPV Ltd, while the underlying securities are held in segregated accounts at Alpaca Securities, a regulated broker in the United States.
Holders have economic exposure to the stocks, with rights defined by the product’s legal structure. Another particularity: the prices used by the crypto platform Aave come from Chainlink oracles, which distribute the prices of tokenized stocks over a five-days-per-week span.
During the weekend, the last published prices are retained. Loan interests, however, continue to accumulate. Users must therefore monitor their collateral, especially when traditional markets reopen.
The arrival of these assets into DeFi represents a new step for the crypto market. Their use in lending is nonetheless much more recent than their trading activity.
In September, Cointribune already noted that only a small part of tokenized stocks was used in onchain financial applications. The sector is now approaching 4 billion dollars of distributed value. bStocks leads the ranking, while Coinbase seeks to develop new use cases around US securities. Upcoming numbers will also need to show whether the asset growth is accompanied by a return of user activity.
