Tokenized finance is one of the most serious growths in crypto today. However, is this just another trend or the foundation of something new?
AMBCrypto previously reported that S&P Dow Jones Indices moved its iBoxx US Treasuries Index on-chain via the Canton (CC) network, one of the clearest moves. The move came as tokenized U.S. Treasuries topped $12.6 billion.
Market cap of BNB Chain tokenized assets hits record high of $16.6 billion
The BNB Chain tokenized asset market has grown over the past year, reaching an all-time high of around $16.6 billion! According to Token Terminal, this figure is more than 2 times higher year-on-year, from around $4 to $5 billion at the start of 2024.
Growth accelerated through 2025, with market capitalization first surpassing $10 billion and then surpassing $15 billion. Tether (USDT) still makes up the largest share of the stack, but a broader base is forming between names like USD Coin (USDC) and WLFi’s USD1.
Growth extends beyond the first 2
At press time, Tether was still well ahead in issuance with $186.5 billion, while Circle followed with $80.0 billion. However, the faster growth occurs further down the table.
Over the past 30 days, Ondo Finance has grown by 36.1% to $3 billion. Likewise, Maple Finance climbed 25.4% to $2.8 billion and Centrifuge added 24.7% to $1.6 billion. Securitization also increased by 14.2% to $2.7 billion.
On the contrary, Tether’s growth remained almost stable at -0.1%.
Tokenized funds reach $31.9 billion as yield products take the lead
The tokenized funds market stood at $31.9 billion at press time. Growth has been driven by yield-oriented products, rather than pure cash.
sUSDS was the largest fund with $6.1 billion, followed by sUSDe with $3.5 billion, USYC with $2.7 billion, and BUIDL with $2.4 billion. The next layer also looks significant: SyrupUSDC is at $1.8 billion, JTRSY is at $1.2 billion, and PAPLO is at $1.1 billion.
It’s no longer just about stablecoins. Revenue-generating on-chain products are evolving quickly!
Final Summary
- The market capitalization of BNB Chain’s tokenized assets reached a record $16.6 billion – 2x from the previous year!
- Tokenized funds soared to $31.9 billion, led by yield-generating on-chain products.
