Tokenized Stocks Hit $4.4B as Schwab Names Avalanche the RWA Leader
Focus of the Day
Tokenized stocks reached $4.4B, up 886% year over year, with Ondo, Binance bStocks and xStocks controlling roughly 80% of supply. The OCC finalized the GENIUS Act stablecoin rule, writing 1:1 reserves and two-day redemptions into the federal framework effective January 18, 2027. Schwab’s research named Avalanche the leader in tokenized RWA, with onchain assets exceeding $13B.
Industry Flash
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Schwab Names Avalanche an RWA Leader — The broker managing $12-13.3T in assets issued a research report, with AVAX targeting 39M brokerage accounts by year-end
Ondo TVL Passes $4B — Onchain active addresses hit 166,723 in 30 days, doubling in three months and outpacing payment stablecoin PYUSD by user base
Tokenized Stocks Reach $4.4B, Up 886% YoY — Ondo ($1.3B), bStocks ($1.2B) and xStocks ($1B) control about 80% of outstanding value
OCC Finalizes GENIUS Act Stablecoin Rule — 1:1 reserves and two-day redemptions enter the federal framework effective January 18, 2027; third-party yields reviewed case by case
SEC Crypto Rule Comment Window Closes — Ripple and industry groups file letters; Tier 1 caps annual raises at $20M, Tier 2 at $75M
Anchorage and Securitize Open Direct Stablecoin Channel — Institutions can mint and redeem USDtb/USAT directly, ending reliance on secondary liquidity providers for the dollar leg
Binance Lists Five More bStocks Pairs — Coverage spans Berkshire, KSTR 50 ETF and 20Y Treasury 3X ETF, all priced in USDT
ARK: Tokenized Stock Volume Surges 9x — Q3 hit $50B, lifting share of DEX spot volume from 1% to 9%
Injective Adds Korean Won Stablecoin KRW1 for Settlement — Partnering with BDACS, KRW1 becomes the platform’s exclusive KRW settlement asset for RWA
Global Stablecoin Supply Reaches $301B — $299B is dollar-pegged, heating up expectations for tokenization of mega-cap stocks
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