Data from RWA.xyz shows that the total value of tokenized stocks on the chain has surpassed $1 billion, marking a significant milestone for the tokenized securities market. This growth reflects increasing investor interest in bringing traditional financial assets onto the blockchain, enabling on-chain stock trading with greater accessibility and efficiency.
In this emerging sector, Ondo Finance and Backed Finance’s xStocks platform dominate issuance and trading activities. Ondo Finance currently holds about 58% of the tokenized stock market share, while xStocks accounts for approximately 24%.
Together, these two platforms control over 80% of the market, forming an initial duopoly in the tokenized stock ecosystem. This indicates that a few protocols are shaping the early infrastructure for the real-world asset (RWA) tokenization sector.