Tokenized equities top 1% of stablecoin supply as on-chain stock trading hits a record
RWA Signal Insight
StocksTokenized equities have experienced rapid growth, expanding 17.6x over the past year to reach a market value of approximately $5.89 billion by late September 2026. This growth has pushed the ratio of tokenized stocks to total stablecoin supply from 0.12% in August 2025 to 1.94%. While this remains a small fraction of the $152 trillion global equity market, the surge in on-chain trading volume, which hit a record $15.6 billion in September, indicates significant user demand. Robinhood has emerged as a dominant force in this space, capturing 42% of the on-chain trading share. Other key players contributing to this ecosystem include Securitize, Ondo, Backed Finance, and Binance. The shift highlights a growing trend of crypto-native liquidity flowing into blockchain-based stock markets to leverage benefits like fractional ownership and 24/7 trading. Despite this momentum, the market faces potential challenges regarding liquidity fragmentation across various issuers and chains.
Key points
- Tokenized equity market value reached $5.89 billion, representing 1.94% of total stablecoin supply.
- On-chain trading volume for tokenized stocks hit a record $15.6 billion in September 2026.
- Robinhood captured 42% of the total on-chain trading volume for tokenized equities.
- Tokenized equities expanded 17.6x in value over the past year, outpacing stablecoin supply growth.
Background
Tokenized equities are digital representations of traditional company shares issued on a blockchain, allowing for fractional ownership and near-instant settlement. These assets aim to modernize equity markets by enabling 24/7 trading and reducing the reliance on traditional brokerage clearing cycles. By utilizing smart contracts, these tokens can be traded directly on-chain, often integrated with stablecoins for seamless liquidity management.