Tokenized single-name stocks reach $2B, claiming nearly 5% of the RWA market

A year ago, tokenized stocks were a rounding error in the real-world asset market. Now they’re a $2 billion category, and growing fast enough to make traditional brokerages pay attention.

Tokenized single-name stocks, meaning individual company shares represented as blockchain tokens, account for roughly 4.7% of the $44.6 billion RWA market. The largest tokens by value include SECZ (Securitize), STRCx, Circle’s CRCLon and CRCLb variants, and SPCXb, the tokenized version of SpaceX stock.

What’s driving the surge

Two catalysts stand out. First, SpaceX’s June 2026 Nasdaq IPO created a frenzy of retail demand for on-chain exposure to the company, resulting in the SPCXb token becoming one of the most actively traded tokenized equities. Second, Securitize’s own NYSE listing via SPAC in July 2026 gave the issuer-sponsored tokenization model a major credibility boost.

Monthly transfer volumes in the tokenized stock category have exceeded $20 billion, with holder counts crossing the 1 million mark.

Three platforms dominate the landscape: Ondo Finance, Binance bStocks, and xStocks. Together, they account for approximately 77% of the tokenized stock market by value. Ondo holds the largest single share, having built its position through aggressive product launches, including its bStocks line that wraps equity exposure into blockchain-native tokens.

Native equity vs. synthetic wrappers

Not all tokenized stocks are created equal, and the distinction matters more than most investors realize.

The majority of trading volume flows through synthetic or derivative wrapper models. These are tokens that track the price of a stock but don’t confer actual ownership of the underlying share.

Then there’s the native equity model, exemplified by Securitize’s SECZ token. At over $150 million in value, SECZ represents issuer-sponsored tokenized shares that provide direct rights to the underlying asset.

For now, synthetics dominate volume because they’re simpler to launch and easier to trade across borders. But the native equity model is gaining ground as companies like Securitize demonstrate that issuer-sponsored tokens can achieve meaningful scale while maintaining regulatory compliance.

Where this fits in the bigger picture

The broader RWA market sits at roughly $44.6 billion, a figure that itself represents explosive growth from the sub-$10 billion levels seen just two years ago. Tokenized treasuries and credit products still make up the lion’s share, but single-name stocks are the fastest-growing subcategory.

The competitive dynamics are worth watching. Ondo, Binance, and xStocks are locked in a three-way battle for market share, each deploying different strategies. Ondo leans into DeFi-native distribution, Binance leverages its massive existing user base, and xStocks has carved out a niche with specific equity offerings.

For traditional financial institutions, the $20 billion in monthly transfer volume is a number that’s hard to ignore. That’s not play money. It represents a genuine migration of equity trading activity onto blockchain rails, driven by investors who prefer the accessibility and composability of on-chain assets.

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