The market for tokenized real-world assets (RWA) on the Stellar network reached approximately $3.996 billion as of August 29, 2026. This represents a 360% increase compared to the $868.8 million recorded at the end of 2025.
Institutional issuers drive this growth, utilizing the network for US Treasuries, credit products, money market funds, and non-US sovereign debt. Spiko is the largest issuer, accounting for approximately $1.55 billion of the total volume.
Stellar holds a leading position in tokenized non-US government debt, with roughly $490 million in this category as of August 20, 2026. Companies like Etherfuse facilitate the on-chain issuance of assets such as Brazilian bonds and Mexican CETES.
Despite the growth in RWA volume, the price of the native token XLM has remained around $0.18 throughout August. Analysts note a disconnect between the network's on-chain activity and the market sentiment toward the token.
The DTCC plans to integrate its tokenization service with Stellar, with assets expected to become available in the first half of 2027. Market concentration remains a factor, as five issuers represent the majority of the total RWA value.
