Stellar’s RWA Market Surges 360% This Year, Nears $4 Billion

Stellar’s market for tokenized real-world assets, or RWAs, has grown more than fourfold this year to nearly $4 billion.

Cointelegraph reported on August 29 that the market capitalization of RWAs on the Stellar network stood at $3.996 billion as of that day. That compares with $868.8 million at the end of last year, an increase of about 360%. The figures are based on a Dune Analytics dashboard operated by Stellar.

Tokenized assets on Stellar include US Treasuries, private and public credit, and non-US government bonds. Spiko was the largest issuer with $1.55 billion. It was followed by Realize at $559 million, Tradable at $548 million, Franklin Templeton at $546 million, and Ondo at $535 million.

Stellar is also expanding its presence in non-US sovereign debt. The Stellar Development Foundation, citing RWA.xyz data, said about $490 million of non-US government bonds had been issued on the Stellar network as of August 20. Those assets include Mexico’s CETES and Brazilian government bonds issued through Etherfuse.

Institutional participation is also increasing. DTCC said in May that it planned to connect its tokenization service to Stellar. Tokenized assets linked to US Treasuries, major index exchange-traded funds and Russell 1000 stocks are set to begin trading on the Stellar network in the first half of 2027.

Tradable said in July that it plans to onboard up to $1 billion of additional private credit assets onto Stellar.

The network’s payment use cases are also widening. MoneyGram launched its dollar stablecoin, MGUSD, on Stellar in June. Reserve-backed stablecoins issued on the network now total about $438 million.

Still, Stellar’s native token, Stellar Lumens, has failed to keep pace with the network’s growth. According to CoinGecko, XLM was trading around $0.18, down about 11% from the start of the year.