Stellar's market for tokenized real-world assets reached $4 billion as of late August, up 360 percent from $868.8 million at the end of 2025, according to tracking data.
The growth tracks accelerating institutional adoption of asset tokenization on the blockchain network. Spiko leads issuers with $1.55 billion in tokenized assets, followed by major players including Franklin Templeton and Ondo Finance. The market now spans credit instruments, government debt, Treasury holdings and equity positions.
Non-U.S. government debt holdings account for $487 million of the total. That allocation includes tokenized Mexican CETES and Brazilian government bonds issued through Etherfuse, a platform specializing in emerging-market sovereign debt tokenization. Foreign sovereign debt now trades on Stellar alongside domestic instruments.
Franklin Templeton issued tokenized Treasury funds on Stellar in 2024 and has continued expanding its presence. Ondo Finance, which focuses on real-yield tokenized products, has grown its Stellar holdings substantially. Both firms are among the largest institutional participants in tokenized asset issuance across all blockchains.
The $4 billion figure represents approximately 0.08 percent of the global RWA tokenization market. Competing networks including Ethereum, Polygon and others have accumulated larger totals, though Stellar's year-to-date growth rate exceeds many peers. The network has positioned itself on lower transaction costs and settlement finality, attracting issuers for whom speed and expense matter.
Stellar's tokenization expansion depends on sustained institutional capital deployment and regulatory clarity around cross-border settlement. If major issuers do not announce new asset classes or increased allocation sizes by end of 2026, the growth trajectory could flatten as low-hanging adoption opportunities exhaust.
