Stellar’s tokenized US T-bills add $96.2 million in a single week
RWA Signal Insight
U.S. TreasuriesThe Stellar network has experienced significant growth in its real-world asset ecosystem, with the market capitalization of tokenized U.S. Treasury bills increasing by $96.2 million in a single week. As of early October 2026, the total value of distributed real-world assets on Stellar reached approximately $3.47 billion, marking a substantial rise from $500 million in early 2025. Data from the RWA Foundation and Token Terminal highlights that while Stellar is seeing strong momentum, Ethereum remains the leader in total Treasury token volume and outperformed Stellar's weekly growth by adding $93.2 million. Major financial institutions are driving this expansion, with J.P. Morgan and Franklin Templeton contributing $81.4 million and $72.6 million in growth respectively. Franklin Templeton’s BENJI product, which launched on Stellar in 2021, continues to serve as a foundational asset for the network. This trend underscores the increasing institutional adoption of blockchain for managing short-term government debt instruments. However, analysts caution that weekly figures can be volatile due to fund rebalancing and shifts between competing blockchain networks.
Key points
- Stellar's total real-world asset value reached approximately $3.47 billion by October 2026.
- Tokenized T-bill market cap on Stellar grew by $96.2 million in one week.
- Ethereum outperformed Stellar with $93.2 million in weekly Treasury token growth.
- J.P. Morgan and Franklin Templeton reported significant individual contributions to T-bill expansion.
Background
Stellar is a decentralized, open-source blockchain network designed for fast, low-cost cross-border payments and asset tokenization. It utilizes a unique consensus protocol that allows for the efficient issuance and trading of digital representations of traditional financial assets, such as government bonds and currencies. The network has become a preferred venue for institutional issuers due to its built-in compliance features and focus on financial inclusion.