Ondo Captures 58% of Tokenized Stocks Market as Sector Surpasses $1 Billion in On-Chain Value

• Tokenized stocks have surpassed $1 billion in on-chain value, marking a milestone for the real-world asset (RWA) sector.

• Ondo and xStocks are the leading platforms, with Ondo holding approximately 58% of the market and xStocks accounting for another 24%. This concentration is attributed to early architectural decisions, liquidity advantages, and regulatory frameworks that established a competitive edge.

• Alice Li of Foresight Ventures highlights the importance of liquidity infrastructure, multi-jurisdiction legal rights, and DeFi composability in shaping the market. Ondo's co-founder Marko Vidrih notes that the 2,900% increase in one year reflects improved regulatory clarity and infrastructure, making these products viable for retail users.

How is the tokenized stock market evolving?

The growth of tokenized equities comes amid broader momentum in blockchain-based RWAs. According to RWA.xyz data, the total value of tokenized RWAs excluding stablecoins has climbed to roughly $26 billion, reflecting growing demand for blockchain-based representations of traditional financial instruments.

On Feb. 26, the tokenized US Treasury market surpassed $10.8 billion in market capitalization. At the time of writing, the sector's overall value is at $11.13 billion, indicating continued growth. Trading activity has also accelerated for tokenized RWAs. On March 6, trading volumes in tokenized stocks and exchange-traded funds routed through the 1inch aggregator's integration with Ondo exceeded $2.5 billion since the partnership launched in September 2025.

What are the implications for the broader RWA market?

The broader RWA market has also seen significant growth, with tokenized assets excluding stablecoins reaching $26 billion in total value.

In 2026, tokenized real-world assets (RWAs) have surged to $25 billion, growing nearly four times since the previous year. This rapid growth is attributed to increasing blockchain adoption among traditional finance (TradFi) institutions, asset managers, and banks. Nexus data shows that tokenized RWAs increased by 289% year-over-year, adding $18 billion in value.

U.S. Treasuries and commodities account for 58% of the growth, with combined tokenized values exceeding $16 billion. Corporate bonds and institutional alternative funds also saw significant gains, with BlackRock and Ondo Finance hitting $2.2 billion and $2 billion, respectively.

While U.S. Treasuries remain dominant, their market share has declined from 59% to 43%, indicating a more diversified RWA market. Across major blockchain networks, RWA holder counts have also surged, with Ethereum leading at 169,000 holders and Solana following closely. The total number of RWA holders now exceeds 663,000.

What role do platforms like MEXC and Ondo Finance play in the expansion?

MEXC and Ondo Finance have launched seven tokenized US equities in defense and energy sectors, available for trading as ERC-20 tokens against USDT. The move expands institutional-grade market access to MEXC's user base and aims to bridge traditional asset access with on-chain infrastructure.

The assets trade as ERC-20 smart contracts against USDT pairs, with two separate launch tranches at 12:00 UTC and 13:00 UTC on March 4, 2026, and withdrawals beginning March 5, 2026. Each token represents direct ownership of the underlying US equity, with holdings verified through quarterly third-party audits and held in regulated trust accounts.

Tokenized equities provide continuous trading access across geographies while removing position minimums and qualified investor restrictions. Defense and energy stocks have historically traded with wide bid-ask spreads and limited retail accessibility. This launch expands institutional-grade market access to MEXC's 15+ million users.

MEXC and Ondo Finance expanded their tokenized equity collaboration by adding 17 new tokenized stock pairs and seven defense/energy-linked tokens. The expansion aims to offer investors 24/7 trading access, programmable governance features, and liquidity while maintaining regulatory compliance.

Tokens are issued as ERC-20 assets on Ethereum and trade against USDT (CRYPTO: USDT) pairs on the exchange, with the underlying shares held in regulated trusts and audited quarterly. Trading fees for the 17 new pairs are waived for the first 30 days, a post-launch incentive designed to spur onboarding and liquidity.

Among the newly listed tokens are representations tied to Lockheed Martin (EXCHANGE: LMT), RTX (EXCHANGE: RTX), ConocoPhillips (EXCHANGE: COP), and Occidental Petroleum (EXCHANGE: OXY); withdrawals for the new tokens are set to commence on March 5. This expansion continues a multi-month cadence of tokenized-equity launches, illustrating sustained interest from exchanges in on-chain access to traditional assets.

This expansion continues a multi-month cadence of tokenized-equity launches, illustrating sustained interest from exchanges in on-chain access to traditional assets. The trend is underscored by multiple exchanges expanding their tokenized stock catalogs and by ongoing industry chatter about how on-chain representations can coexist with conventional securities frameworks.

What is the broader impact of RWA tokenization on financial inclusion?

Real-World Asset (RWA) tokenization is redefining lending infrastructure by connecting emerging market SMEs and workers to global liquidity pools via blockchain. This approach unlocks capital for productive assets like receivables and earned wages, enhancing liquidity, productivity, and economic stability in developing economies.

Financial inclusion in emerging markets is hindered not by a lack of bank access but by insufficient liquidity. Micro, small, and medium-sized enterprises (MSMEs) make up a large portion of the economy but face significant capital constraints, with a $5.2 trillion formal and $2.9 trillion informal financing gap.

Traditional lenders are often limited by domestic liquidity, high interest rates, and shallow capital markets. RWA tokenization allows productive assets, such as SME receivables and payroll-linked assets, to be digitized and structured for broader access.

These tokenized assets can be integrated with stablecoin settlement systems, providing faster, more transparent, and lower-cost access to global capital. For individuals, earned wage access programs offer a way to reduce financial stress and improve productivity without resorting to high-cost borrowing.

Tokenization also supports broader development goals by creating good jobs, boosting economic growth, and reducing inequality. Early implementations, such as ABHI Middle East's collaboration with Zignaly and ZIGChain, demonstrate the model's potential.

However, challenges such as credit risk management, regulatory clarity, and transparency remain. RWA tokenization could redefine access to capital in emerging markets, shifting from constrained domestic systems to connected global ones.

In 2026, tokenized real-world assets (RWAs) have surged to $25 billion, growing nearly four times since the previous year. This rapid growth is attributed to increasing blockchain adoption among traditional finance (TradFi) institutions, asset managers, and banks.

Nexus data shows that tokenized RWAs increased by 289% year-over-year, adding $18 billion in value. U.S. Treasuries and commodities account for 58% of the growth, with combined tokenized values exceeding $16 billion.

Corporate bonds and institutional alternative funds also saw significant gains, with BlackRock and Ondo Finance hitting $2.2 billion and $2 billion, respectively. While U.S. Treasuries remain dominant, their market share has declined from 59% to 43%, indicating a more diversified RWA market.

Across major blockchain networks, RWA holder counts have also surged, with Ethereum leading at 169,000 holders and Solana following closely. The total number of RWA holders now exceeds 663,000. Stablecoin holders have also increased to 233.2 million. With continued adoption and institutional interest, the RWA market is projected to grow significantly in the mid to long term, potentially surpassing $50 billion by 2030.