USDC emerges as the go-to stablecoin powering tokenized equities’ billion-dollar moment

Ondo Global Markets has achieved a significant milestone by surpassing $1 billion in total value locked for tokenized equities by May 2026, just eight months after its launch. This growth reflects a broader expansion in the tokenized equity sector, which grew from $424 million in mid-2025 to approximately $960 million by March 2026. Ondo currently commands a 60% market share, with its CRCLon product alone exceeding $100 million in TVL. Circle’s USDC has emerged as the preferred settlement layer for these institutional-grade products, favored for its compliance-first reputation and regular attestation reports. Meanwhile, Circle’s USYC money market fund has surpassed $2 billion in assets under management, further cementing the firm's role in the RWA ecosystem. While the tokenized equity market remains small compared to traditional exchanges like the NYSE, the rapid 30% quarterly growth in the broader RWA sector signals increasing institutional adoption. Future market trajectory will depend heavily on evolving US regulatory clarity and the commitment of institutional liquidity providers to onchain financial instruments.