The value of tokenized real-world assets (RWA) on Stellar has climbed roughly 360% in 2026 to nearly $4 billion, up from $868.8 million at the end of last year, according to a Dune Analytics dashboard maintained by Stellar.
The network’s RWA market cap stood at $3.996 billion as of Aug. 29, spread across US Treasurys, private and public credit, non-US government debt and other tokenized asset classes.
The market is concentrated among a handful of issuers. Spiko accounted for $1.55 billion of Stellar’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.
Stellar’s RWA market cap has surged in 2026. Source: Dune Analytics/Stellar
Stellar has gained ground in non-US government debt. Citing RWA.xyz data, the Stellar Development Foundation said the network held about $490 million in the asset class as of Aug. 20, including tokenized Mexican CETES and Brazilian government bonds issued through Etherfuse.
Source: StellarOrg
Despite the growth in RWAs, the blockchain’s native XLM token is down about 11% year to date, trading near $0.18, according to CoinGecko data.
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Institutional adoption drives Stellar’s RWA growth
The expansion comes as financial institutions and tokenization platforms deepen their use of the network.
In May, the Depository Trust & Clearing Corporation (DTCC) announced plans to connect its tokenization service to Stellar, with DTC-tokenized assets expected to become available on the network in the first half of 2027. The integration could eventually support tokenized US Treasurys, major index ETFs and stocks in the Russell 1000.
That institutional push continued in July, when tokenization platform Tradable announced plans to bring up to $1 billion in private credit assets to Stellar. The integration is designed to support compliance, investor onboarding and asset lifecycle management, building on $1.7 billion in private credit that Tradable has already tokenized across nearly 30 positions.
Stellar has also expanded its role in digital payments. MoneyGram launched its MGUSD dollar stablecoin on the network in June, allowing users to hold dollar-denominated balances and move funds through its global payments network.
MGUSD joins roughly $438 million in reserve-verified stablecoins currently issued on Stellar, according to the Dune dashboard.
Stellar’s RWA and stablecoin market caps. Source: Dune Analytics/Stellar
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