Tokenized real-world assets on Stellar have expanded sharply in 2026, with the network’s RWA market approaching the $4 billion mark by late August. Data from a Dune Analytics dashboard maintained by Stellar showed the total value at $3.996 billion on Aug. 29, up from $868.8 million at the end of 2025.
The increase works out to roughly 360% growth this year. The assets represented on Stellar span several categories, including US Treasurys, private and public credit, non-US government debt and other tokenized instruments.
Growth driven by a broadening asset base
The latest figures point to a much larger tokenized asset footprint on Stellar than the network had at the start of the year. From less than $900 million at the end of 2025, the market has expanded to just under $4 billion in eight months, based on the Stellar-linked dashboard.
The total reflects multiple forms of tokenized financial exposure rather than a single product line. According to the data cited in the report, Stellar’s RWA market includes government debt, credit products and other tokenized asset classes.
A handful of issuers dominate the market
Stellar’s tokenized asset market remains concentrated among a small number of participants. As of Aug. 27, Spiko represented the largest share with $1.55 billion in RWA value on the network.
The next largest issuers were Realiz at $559 million, Tradable at $548 million, Franklin Templeton at $546 million and Ondo at $535 million. Together, those names account for most of the reported market size, highlighting how issuance is clustered even as overall activity has grown.
Non-US government debt becomes a notable segment
Stellar has also been building a presence in tokenized non-US sovereign debt. The Stellar Development Foundation, citing RWA.xyz data, said the network held about $490 million in that category as of Aug. 20.
That figure included tokenized Mexican CETES and Brazilian government bonds issued through Etherfuse. The data suggests that part of Stellar’s expansion has come from areas of tokenization beyond the more commonly tracked US Treasury products.
Network growth has not lifted XLM this year
The rise in tokenized asset activity has not been mirrored by Stellar’s native token. Despite the growth in RWAs on the network, XLM was down about 11% year to date and trading near $0.18, according to the report.
That divergence underscores that expansion in onchain financial products and the market performance of a blockchain’s native asset do not always move in step. For now, the confirmed picture is that Stellar’s tokenized asset market has grown rapidly in 2026, while XLM has remained under pressure.
Source: cointelegraph.com