Tokenized assets continue to grow across financial markets
The market for tokenized real-world assets (RWAs), which represent traditional assets on blockchain networks, continued to expand this week, with tokenized private credit remaining the largest segment by market value.
According to CoinGecko data compiled at 9:30 a.m. Korea time on Oct. 11, tokenized U.S. Treasuries had a market capitalization of $9.41 billion between Oct. 5 and Oct. 11, down 0.2% from the previous week. Tokenized private credit reached $25.30 billion, up 0.9% over the same period.
Other major segments included tokenized commodities at $6.24 billion, tokenized gold at $5.96 billion, tokenized money market funds at $3.16 billion and tokenized stocks at $2.54 billion.
Securitize brings major U.S. stocks onto blockchain
Tokenization firm Securitize has launched blockchain-based versions of seven major U.S. stocks: Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta and Amazon.
The tokenized shares use USDC payments on the Solana blockchain. The tokens are backed one-to-one by actual stocks through Securitize Markets, a regulated intermediary, using a structure that gives holders conversion rights linked to the underlying assets.
Securitize said additional assets, including SpaceX, Palantir, Circle and Strategy, are expected to follow.
Data provider rwa.xyz showed that the circulating value of tokenized stocks reached $3.33 billion as of Oct. 11, up 15.39% over the past 30 days. The number of holders rose 26.15% during the same period to 4.34 million.
Major financial firms compete in tokenized Treasury products
The tokenized U.S. Treasury market includes products from major financial companies. rwa.xyz reported that tokenized U.S. Treasury products had a total circulating value of $14.86 billion as of Oct. 10, with 117 products and 86,232 holders.
The largest products included Circle’s USYC at $2.38 billion, Ondo USDY at $2.32 billion and BlackRock’s BUIDL fund at $2.20 billion. Other leading products included Franklin Templeton’s iBENJI, WisdomTree’s WTGXX, JPMorgan’s JLTXX and Franklin Templeton’s BENJI.
Franklin Templeton CEO Jenny Johnson criticized some competing tokenized funds at the TOKEN2049 conference in Singapore on Oct. 8, describing many as “digital copies” that do not fully use blockchain technology. She said Franklin Templeton’s BENJI product processes transactions at about $1.13 per transaction, compared with roughly $150 under traditional fund processing methods.
Regulators in Europe and South Korea move toward clearer rules
Regulators are also working to establish frameworks for tokenized securities. European Union finance ministers reached an agreement on key elements to expand the scope of the bloc’s distributed ledger technology pilot regime. The proposal still requires further negotiations before implementation, which is expected no earlier than 2028 or 2029.
South Korea is preparing its own tokenized securities framework. The Financial Services Commission announced proposed revisions to capital markets and electronic securities regulations, covering not only fractional investment securities but also stocks, bonds and funds. The system is scheduled to take effect on Feb. 4, 2027.
The South Korean rules would require at least two account management institutions for distributed ledger systems, set a minimum capital requirement of 4 billion won for issuer account management institutions and limit annual net purchases by individual investors through a single over-the-counter exchange to 100 million won.
RWA market remains a developing financial sector
While tokenized assets are attracting attention from global financial firms, market data shows different segments moving at different speeds. Tokenized stocks posted the strongest weekly growth among major categories at 2.9%, while tokenized private credit remained the largest market segment.
Market figures for tokenized assets can overlap across categories, and the structure, eligibility requirements and regulations vary by product. The data reflects market conditions at the time of measurement and does not represent investment advice.
Comments
Post a Comment