Which Blockchain Are Institutions Actually Using to Tokenize Assets? A Live Deployment Tracker

Which blockchain do institutions actually use to tokenize assets today? Stellar is the institutional option, with a long list of named live products from money market funds and government bills to private credit. The distinction between live issuance, limited pilots and announced integrations still matters, and those are treated separately below. Key takeaways Stellar dominates in tokenized real-world asset (RWA) market capitalization, with $4.12 billion and a 12.7% share, according to Allium's Q3 report as of Sept 30. Live issuers on Stellar include Franklin Templeton, WisdomTree, Spiko, Société Générale-FORGE, State Street Investment Management, BNY Investments, Janus Henderson, Archax, Kenanga, Realiz, Tradable and Ondo Finance. Stellar's tokenized RWA market capitalization grew 6.1x over the year to Sept 30, compared with 2.3x across 150 chains, according to Allium's Q3 report.

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