The system of record for stablecoins, tokenized assets, & onchain finance. Access standardized & comparable data for asset issuers, DeFi venues, & blockchains.
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Token Terminal 📊 retweeted
Tokenized stocks are following the stablecoin playbook.
85.7% of the $4.63B market is a US asset held in custody, distributed globally on public blockchains.
→ $4.63B is where stablecoins were in March 2020, before growing 64x to $297B
→ @BNBCHAIN, @solana and @ethereum carry 79% of the market
→ US-listed stocks and ETFs back 86.4% of it
→ $295M is already working in DeFi
All courtesy of @tokenterminal & their excellent data.
Token Terminal 📊 retweeted
Tokenized stocks on X Layer have added $32M in market cap over the past 7 days, the third-largest increase among chains after BNB Chain and Solana
Token Terminal 📊 retweeted
GTA VI launches November 19
Tokenized stock tracking Take-Two, the parent company of GTA developer Rockstar Games, has reached $5.2M in market cap, led by Backpack-issued assets ($3.1M) and Robinhood stock tokens ($1.3M)
85.7% of tokenized stock market cap follows the stablecoin model
A U.S. asset held in custody, distributed globally on public blockchains, with clear economic benefits for multiple stakeholders
At $4.63B, it matches stablecoins in early 2020, before their market cap grew 64x
who benefits from market-led tokenization?
@saylor @jerallaire @elonmusk & others whose companies can reach a broader global investor base.
Traditional markets offer multiple ways to gain exposure to the same asset. Onchain markets will too.
Great to see different approaches competing, as this competition will result in better products for end users.
Seems like everyone has an opinion on tokenized stocks this week. Let’s talk about what’s actually possible.
Real shares. Real rights. Real control. Inside the rules Wall Street already runs on.
#TokenizationDoneRight
Token Terminal 📊 retweeted
Spiko's tokenized funds have reached $3B in market cap, up 536% over the past year
Of that, $1.9B is on Stellar and $669M on Arbitrum
Token Terminal 📊 retweeted
Arc leads chains by stablecoin market cap growth over the past 30 days, adding $525M
Token Terminal 📊 retweeted
xStocks users bought the dip
Onchain AUM rose 19.1% in 30 days, from $868M to $1.03B, even as stock prices fell
Price moves took $52.6M off AUM, while net inflows added $209M
Of the 25 largest xStocks, 18 of the 19 whose stock price fell still drew net inflows
Token Terminal 📊 retweeted
Something cooking at @RealVision ; a better way to understand token value accrual, i.e., a quality screener. More to follow as I roll out more tools from the Helios Analytics crypto terminal to subscribers.
Securitize’s Q2 earnings presentation offers a glimpse of where markets are heading.
Token Terminal tracks blockchain rails in real time, so as more of the world’s assets move onchain, a growing share of global financial flows show up here first.
Token Terminal 📊 retweeted
Tokenized stocks are growing.
Users want 24/7 access to stocks with all the perks of defi. The shift is here and it’s not slowing down.
Token Terminal 📊 retweeted
Giving non-US users access to equity in US companies in a compliant manner is far more valuable.
The best of both worlds: US securities, global access. Increased Economic Freedom for the world, Increased Access to Capital for US companies.
ADRs give foreign companies access to US capital, CB Tokenized Stocks give US companies access to foreign capital.
This isn't surprising. The incentive for issuers to consent to tokenization of their stock under the SEC's Innovation Exemption are weak –– they may get 24/7 trading, but that trading occurs on US venues rather than in new global markets, so there's no net new demand.
But issuer objections aren't going to stop this train. There are many legal pathways to bring securities onchain that don't require consent and that aren't subject to the SEC's jurisdiction. Someone could even build a permissionless protocol that does so.
So, if the SEC wants to maintain oversight of US securities markets, it needs to create an approach for tokenization that delivers the full benefits of onchain markets –– atomic settlement, 24/7 trading, global liquidity, etc.
Supporting permissionless trading of securities through DeFi systems would accomplish that goal, and doing so would create the incentives for issuers that the innovation exemption lacks.
xitter.cf/EleanorTerrett/status/…
Token Terminal 📊 retweeted
$USDG growth up and to the right
the programmable economy prevails
Token Terminal 📊 retweeted
Funds are being tokenized at size on Arbitrum
With $1.1B in market cap, growth over the last 7 days has been led by issuers like @Spiko_finance, @FTDA_US, @Securitize and more
Tokenized Strategy common and preferred stock (MSTR & STRC) has reached $475M in market cap, up 3,467% over the past year
Of that, $204M is on Ethereum, $118M on BNB Chain and $80M on Solana
Open Standard leads stablecoin issuers by market cap growth over the past 30 days, with its OUSD adding $794M
Token Terminal 📊 retweeted
If you own a share of stock today via a broker-dealer, you're probably not on the company's books. Cede & Co., which is owned by DTC, is.
Yesterday, Securitize submitted a comment letter to the SEC on DTC's proposal to modernize the Direct Registration System (DRS), the process for moving shares from Cede & Co. to the transfer agent's books and records, and we strongly support it.
DTC wants to cut the time it takes to move shares via DRS into an investor's own name from days to minutes. That matters a lot for tokenization. It's the on-ramp to issuer-sponsored tokens, where the investor is the registered owner of the real security, on-chain. Not an IOU.
In our letter, we asked DTC to take it one step further: let investors move from a DTC token into a directly registered token in a single step. We also asked for published processing times and the same speed in both directions.
Do that, and moving between street name and a directly registered token becomes even faster and simpler, in both directions. Tokenization works best when investors can do so without friction.
Great work by @SecuritizeBilly and our team. Letter below
sec.gov/comments/SR-DTC-2026…