Tokenized equities top 1% of stablecoin supply as on-chain stock trading hits a record
Tokenized 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.
