Stellar’s tokenized RWA value up 360% in 2026 to nearly $4 billion

Market concentration among key issuers

The growth in Stellar’s RWA sector is dominated by a select group of issuers. As of August 27, Spiko contributed $1.55 billion to Stellar’s total RWA value, establishing itself as the network’s largest single issuer. Other major contributors include Realiz with $559 million, Tradable with $548 million, Franklin Templeton with $546 million, and Ondo with $535 million.

The platform’s tokenized assets span US Treasurys, private and public credit, non-US government debt, and additional asset classes.

Stellar expands in non-US government debt and private credit

Stellar has seen notable traction in non-US government debt. Based on RWA.xyz data, the Stellar Development Foundation reported that the network managed around $490 million of these assets as of August 20. This pool includes tokenized Mexican CETES and Brazilian government bonds facilitated through Etherfuse, a company specializing in tokenizing government securities.

Mini dictionary: Etherfuse, a fintech platform that enables the issuance and management of tokenized government bonds such as Mexican CETES and Brazilian sovereign debt, allowing for greater investor access and improved liquidity.

Meanwhile, tokenization platform Tradable announced plans in July to bring up to $1 billion in private credit assets onto Stellar. This move aims to streamline compliance processes, investor onboarding, and asset lifecycle management. Tradable, which has already tokenized $1.7 billion in private credit across nearly 30 positions, is expected to further boost Stellar’s market presence.

Institutional adoption and stablecoin growth

Financial institutions and tokenization services have deepened their engagement with Stellar. In May, the Depository Trust & Clearing Corporation (DTCC), which serves as one of the world’s leading market infrastructure providers for the global financial services industry, announced plans to link its DTC-tokenized assets to the Stellar network. This integration is scheduled for the first half of 2027 and could potentially allow for tokenized US Treasurys, large-cap index ETFs, and stocks from the Russell 1000 to be available on-chain.

MoneyGram, a prominent global money transfer company, rolled out its MGUSD dollar stablecoin on Stellar in June. This new stablecoin enables users to hold balances denominated in US dollars and transfer funds using MoneyGram’s international payments infrastructure. MGUSD is part of a growing reserve of stablecoins on Stellar, which now amount to around $438 million in reserve-verified assets, according to Dune data.

Stellar’s total RWA market cap climbed to $3.996 billion, with the majority of asset value concentrated in US Treasurys, private and public credit, non-US government debt, and other tokenized classes, highlighting the increasing role of major issuers and financial institutions in the network’s rapid expansion.

Despite the sharp growth in on-chain RWAs and increased institutional adoption, Stellar’s native token XLM has declined by approximately 11% year to date, currently trading near $0.18, according to CoinGecko’s latest figures.