Japan Has 16.4% of Known-Location Tokenized Treasury Holders, 0.4% of Value

Japan accounted for 16.4% of holders of tokenized U.S. Treasury assets with identifiable locations, but just 0.4% of their value, showing a wide gap between holder count and the value held. Among tokenized U.S. Treasury assets with identifiable holder locations, Italy represented 29.9% of value, Portugal 18.8% and Singapore 18.2%. Together, the three countries accounted for 66.9% of value in that group; the United States ranked fourth at 10.5%. These country shares cover only assets for which holder locations could be identified. The tokenized U.S. Treasury market reached $15.42 billion in the 12 months through July 1, 2026, up 125% from $6.86 billion. The holder-count comparison adds another measure to earlier coverage of U.S.

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