On June 8, Binance Research released its monthly market insights report, showing that from the beginning of 2025 to June 2026, active tokenized real-world assets (RWA) grew by about 589%; tokenized public equities saw the fastest growth (+422%). In May 2026, crypto card transaction volume exceeded $747 million (year-over-year growth of 48.6%).
RWA Category Growth Data (from the beginning of 2025 to June 2026)
Total growth for active tokenized RWA: about 589%
Tokenized public equities: fastest growth, +422%
Bonds and money market funds: +$6.5 billion (+83%); BlackRock, Fidelity, Circle, and Ondo continue to lead
Uncorrelated alternative RWAs (including reinsurance to GPU tokenization): +72%
Tokenized equities: within six months, rose from $2.23 billion to $5.5 billion (+147%, The Block data), becoming the fourth-largest category by market cap for RWA
Crypto Cards: Consumer Demand Is Splitting from Stablecoin Circulation
In May 2026, crypto card transaction volume exceeded $747 million, up 48.6% year over year, while stablecoin supply growth over the same period was only 3.2%.
Consumption is concentrated on execution-focused blockchains: BNB Chain and Solana account for the majority; although Ethereum holds 53% of stablecoin supply, it accounts for only 12% of crypto card transaction volume. Binance Research said this indicates that the crypto card settlement layer is forming a market structure independent of stablecoin circulation.
SpaceX IPO Tokenization and Exchange Updates
Kraken and Bybit have already natively offered tokenized investment in SpaceX IPOs on their respective platforms, allowing users to participate without leaving the crypto ecosystem. Binance is also offering stock perpetual products to non-U.S. user groups.
Before tokenization, IPO pre-investment opportunities typically required institutional relationships or participation via secondary-market brokers; tokenization significantly lowers this barrier. In the report, Binance Research noted that the quantum resistance board sector outperformed Bitcoin by about 59.3% on a monthly basis, and Zcash’s quantum-resilient wallet plan is scheduled to be delivered within the month.
FAQ
How is Binance Research’s 589% RWA growth calculated?
According to Binance Research’s June 2026 monthly report, 589% refers to the overall growth in active tokenized real-world assets from the beginning of 2025 to June 2026, covering categories such as bonds, money market funds, public equities, and alternative RWAs. Public equities are the fastest-growing category (+422%); The Block also noted that the market cap of tokenized equities rose from $2.23 billion to $5.5 billion (+147%).
Why does Ethereum’s share in crypto card transactions lag far behind its share in the stablecoin market?
Binance Research’s report said that while Ethereum holds 53% of stablecoin supply, it accounts for only 12% of crypto card transaction volume because consumption is concentrating on faster-executing, lower-cost blockchains such as BNB Chain and Solana. This suggests the crypto card settlement layer is forming an independent market structure.
What do BTC and ETH ETF fund flows and the decoupling from equities mean?
Binance Research explained that BTC and ETH ETF fund flows were once highly correlated with the stock market (especially semiconductors and small-cap stocks), but that correlation has now reversed or collapsed. Fund flow behavior is increasingly aligning with corporate and government bond behavior. The report said this indicates that the crypto market’s role is shifting from frontier-tech risk assets to tools sensitive to macro liquidity, and currently only HYG and TLT still show a correlation with fund flows.
