Stellar has $4.4B in distributed real-world assets with 25,083 holders across 84 tokenized products. Spiko ($2.0B), Benji Investments ($1.1B), and Ondo ($538.6M) lead issuance. Circle's USDC drives $19.8B in monthly volume. DeFi protocols like Blend and Aquarius add $223.3M TVL. The report profiles asset managers, institutional exchanges, tokenization platforms, and infrastructure builders shaping Stellar's RWA ecosystem.
Stellar carries $4.40 billion in distributed real-world assets as of November 2026, growing 24% in the past 30 days. The ecosystem spans 84 distinct tokenized products held by 25,083 addresses. Institutional asset managers dominate issuance: Spiko manages $2.0 billion across nine assets, Franklin Templeton's Benji platform holds $1.1 billion (primarily FOBXX, a registered mutual fund), and Ondo Finance deployed $538.6 million in USDY yield-bearing stablecoins. Combined, these three platforms account for approximately 94% of total on-chain RWA value. Beyond pure issuance, the ecosystem has matured across infrastructure. Circle's USDC moved $19.81 billion in the past month alone—up 99% from the prior period—showing payment-layer scale. Decentralized finance protocols like Blend Capital ($125.6M TVL), Aquarius ($39.0M), and Soroswap ($1.2M) provide liquidity for RWA-backed assets. Archax announced tokenized European government bills (EUR GOVY) at October's Meridian conference, and partnerships like Janus Henderson–Centrifuge (JQQQ Nasdaq-100 index fund) and New York Life–Centrifuge (high-yield corporate bonds) signal institutional adoption accelerating beyond Treasury products.
