Update
Update March 10, 11:40 am UTC: This article has been updated to include comments from RWA.io co-founder Marko Vidrih.
The realm of tokenized stocks has crossed the impressive threshold of one billion dollars in on-chain value, highlighting a pivotal moment for the burgeoning real-world asset (RWA) industry.
According to data from RWA.xyz, the value of tokenized equities exceeded one billion, as blockchain platforms providing traditional stock exposure gain momentum in trading and liquidity.
Much of the trading action is centralized among few key players. RWA.xyz’s findings, along with a report published by Foresight Ventures, reveal Ondo as the leading platform in tokenized stocks by value, followed by xStocks, which commands a notable portion of the market.
Foresight Ventures’ recent analysis indicates that regulatory challenges, liquidity benefits, and various tokenization models are significantly influencing competition in this sector.
Tokenized stocks surpassed the $1 billion milestone. Source: RWA.xyz
Early Dominance of Ondo and xStocks
RWA.xyz reports that Ondo holds approximately 58% of the market, whereas products from the xStocks platform account for about 24%, establishing a significant lead in this emerging sector.
Alice Li from Foresight Ventures expressed that these early leaders capitalized on strategic structural decisions regarding liquidity and legal frameworks.
“Building one of these platforms requires liquidity infrastructure, multi-jurisdiction legal rights, and DeFi composability, and those three things pull against each other.”
Li noted that both Ondo and xStocks achieved their current standings by making decisive architectural choices early on.
Marko Vidrih, co-founder and COO of RWA.io, pointed out that while reaching the billion-dollar mark is crucial, the speed of this achievement holds greater significance.
“The roughly 2,900% increase in twelve months reflects the convergence of several forces, including major platform launches, improving regulatory clarity, and infrastructure now making these products feasible for retail users.”
Broader Momentum in Tokenized Assets
The rise of tokenized stocks coincides with a general uptrend in blockchain-based RWAs. Current data shows the total value of tokenized RWAs, excluding stablecoins, has reached about 26 billion dollars, signifying a growing appetite for blockchain representations of traditional financial products.
Trading activity is also on the rise for these tokenized RWAs. For instance, on March 6, trading volumes in tokenized stocks and ETFs processed through the 1inch aggregator’s integration with Ondo exceeded 2.5 billion dollars since the partnership began in September 2025.
