Tokenized Stocks Top $3B, BENJI Collateral Goes Mainstream as BNB Leads RWA Holders
Today’s Focus
Tokenized stocks broke past $3 billion in market cap as Avalanche led with $131M in weekly inflows and 1.7M holders. Franklin Templeton’s BENJI shares debuted as over-the-counter collateral via Bybit, the second major exchange to accept them after Binance; the Eurosystem proposed dropping MiCA’s stablecoin deposit floor in favor of liquidity buckets. BNB Chain overtook Ethereum with 1.883M holders, shifting RWA adoption toward a retail-reach narrative.
Industry Briefs
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BNB Chain Becomes the Top RWA Holder Chain — 1.883M wallets passed Robinhood Chain and Solana, while Ethereum still leads distributed value with a 44.26% share
Avalanche Logs $131M in Weekly Tokenized Stock Inflows — more than all tracked peers combined, with $252M added over the month, double BNB, and 1.7M holders
Bybit × Franklin: BENJI Shares Debut as OTC Collateral — eligible institutions pledge tokenized money-market fund shares via ByCustody for USDT/USDC trading credit, extending to Mantle wallet wealth products
Eurosystem Proposes Dropping MiCA Stablecoin Deposit Floor — replacing the 30%/60% bank-reserve requirement with a share of assets maturing within 1-5 working days, pending the European Commission
CFTC Chair Backs Tokenized Collateral — citing near-instant settlement and real-time collateral mobility, with principles-based rules for tokenization and on-chain finance to follow
Ondo × NEAR Launches Tokenized Stocks and ETFs — 20 assets initially, payments from 30+ networks, cross-chain execution via NEAR Intents, limited to eligible jurisdictions
RWA Perpetual Volume Hit $117.3B in August — up 44x year over year per a16z data, tracking stocks, commodities and indices with price exposure only
Ripple × Securitize Launch 24/7 RLUSD Off-Ramp — a smart contract instantly converts BUIDL/VBILL shares into RLUSD, bypassing banking hours and manual redemption delays
Bitget Hit by ~$387M Attack — a compromised back-end wallet spoofed transaction data without leaking private keys, with the protection fund covering losses
Tokenized Treasuries Stand at $1.469B — down 7.93% over 30 days with a 3.53% seven-day yield, led by Circle USYC, Ondo USDY and BlackRock BUIDL
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