RWA DAILY
RWA Holder Ranks Reshuffle as BNB Leads and Avalanche Draws Tokenized-Stock Inflows
On-chain distributed RWA value
$38.58B
rwa.xyz · Sep 28
BNB Chain RWA holders
1.88M
No.1 network-wide
Tokenized equities market cap
$3.0B
Milestone crossed
FOBXX 7-day yield
3.57%
Franklin OnChain fund
BNB Chain Surpasses Ethereum and Solana to Become the Top Chain for Tokenized RWA Holders
Data from the RWA Foundation on September 28 shows BNB Chain leading all networks with 1.883 million RWA-holding wallets, ahead of Robinhood Chain (1.444 million), Solana (698,000) and Ethereum (275,000). Ethereum still leads on distributed RWA value with a 44.26% share, however, while BNB Chain holds 14.51% and added roughly $3.6 billion in value this year. The divergence between holder count and asset value paints two distinct facets of tokenization adoption.
- BNB Chain’s holder base is roughly 2.7x Solana and nearly 7x Ethereum, with tokenized stocks a key source of growth
- Binance Wallet began supporting USDT gas payments on September 25 (covering BSC, Ethereum, Solana and TRON), lowering the barrier to cross-chain stablecoin use
- A zero-fee campaign for USDC, USD1 and U runs through September 30, having already covered over $4.5 million in gas for on-chain users
Signal
Value and users are diverging as metrics; BNB is pursuing a user-breadth strategy
Ecosystem play
Zero fees, USDT gas and retail campaigns (a $4M Stonks Season) all align
Implication
RWA adoption is shifting from institutional value accumulation to a retail-reach user story
Source: BlockInsider · RWA Foundation · September 28, 2026
Avalanche Draws a Network-Leading $131M in Tokenized-Stock Inflows in One Week, 1.7M Holders Top the List
Avalanche recorded $131.2 million in tokenized-stock inflows over seven days, exceeding the combined total of every other tracked network in the category. For the month ending September 25, Avalanche added $252.1 million to its tokenized-equity market cap, more than double second-place BNB Chain ($122.2 million). As an asset class, tokenized equities have crossed a $3 billion market cap, with Avalanche commanding roughly 7.5% and about 1.7 million on-chain holders, the highest of any network.
- In June, Dinari deployed over 350 tokenized US stocks, ETFs and REITs onto Avalanche’s C-Chain (including SpaceX pre-IPO shares), initially waiving trading fees
- Japan’s Progmat migrated roughly $2 billion in tokenized securities to a dedicated Avalanche Layer 1, while BlackRock’s BUIDL also contributed inflows
- Avalanche’s RWA total value locked reached $1.6-2.0 billion by late 2026, with a compliance-first route (Dinari/Progmat) proving key
Sector focus
Tokenized stocks are the main chain-to-chain battleground; Avalanche leads via compliant deployment
Growth engine
$131M weekly inflows plus a $3B sector cap push capital toward specialized L1s
Network effect
1.7M holders keep generating AVAX gas fees, creating a self-reinforcing loop
Source: CryptoCortex · Token Terminal · September 28, 2026
Bybit and Franklin Templeton Make Tokenized Money-Market Shares Off-Exchange Collateral, Plan a Mantle Wallet Product
Franklin Templeton and Bybit announced a strategic collaboration whose first initiative lets eligible institutional clients use tokenized money-market fund shares issued on the Benji platform as off-exchange collateral for Bybit trading. Clients pledge BENJI shares through ByCustody to obtain USDT or USDC trading credit, while the underlying assets stay in off-exchange custody with their value mirrored in real time, combining fund yield with trading liquidity.
- The Franklin OnChain US Government Money Fund (FOBXX) holds roughly $687 million in net assets, with a 3.57% 7-day current yield and 3.63% effective yield
- Following its February deal with Binance, Bybit becomes the second major exchange to accept BENJI tokens as collateral
- The partnership also extends to a wallet-based tokenized wealth product on Bybit and the Mantle chain, covering retail investment strategies
Institutional template
Yield-bearing fund shares can back leverage, embedding TradFi assets into exchange capital flows
Industry signal
Cross-exchange BENJI collateral becomes standard; Franklin has now added Binance, OKX and Bybit
Retail extension
A Mantle-chain wallet wealth product will bring professional strategies to on-chain retail users
Source: UseTheBitcoin · Crypto.News · September 28, 2026
Eurosystem Proposes Scrapping MiCA’s Stablecoin Bank-Deposit Floor in Favor of Liquidity-Based Tiers
In a consultation response on MiCA, the European System of Central Banks proposed removing the hard requirement that stablecoin issuers hold at least 30% of reserves as bank deposits (60% for significant tokens), and instead requiring that a minimum share of reserve assets mature within one to five working days. The aim is to replace deposit-share constraints with a liquidity-tiering approach. The European Commission ultimately decides, and the shift could reshape how stablecoin reserves are allocated.
- Current MiCA rule: stablecoins must keep 30% of reserves in bank deposits, rising to 60% for significant tokens
- The Eurosystem suggests a minimum share of shortest-maturity assets instead of a deposit floor, closer to liquid-asset management practice
- The proposal is a non-binding consultation response; its fate rests on the European Commission’s legislative agenda
Regulatory direction
Shifting from deposit share to liquidity tiering loosens reserve management
Stablecoin impact
Issuers gain more flexible reserve allocation; demand for short-duration assets may rise
Linkage
Advances alongside CFTC tokenized collateral and SEC tokenized-securities guidance
Source: Stobox Weekly Digest · European System of Central Banks · September 28, 2026

发表回复