Tokenized stocks account for 99.3% of $14.4 billion in onchain trading outside the US
Tokenized US equities have emerged as a dominant force in the international onchain market, accounting for 99.3% of the $14.4 billion traded outside the US over the past 30 days. As of September 2026, the market capitalization for these assets surged to between $3 billion and $4.8 billion, representing year-over-year growth as high as 395%. This expansion is primarily driven by over 4 million retail investors with an average position size of approximately $780. Major platforms including Binance, Kraken, and Robinhood are capturing this demand, leveraging networks like BNB Chain and Solana to facilitate 24/7 trading. A September 2026 SEC innovation exemption has further supported this international activity by simplifying access to tokenized US stocks. Despite this rapid growth, the sector remains a small fraction of the broader RWA economy and traditional equity markets. Currently, only 2% to 6% of these tokens are utilized as collateral, indicating that users primarily treat them as speculative assets rather than DeFi primitives. The ability to trade outside of traditional Wall Street hours remains a key value proposition for global retail participants.