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- As demand for tokenizing RWAs builds, LINK, XLM, HBAR, and AVAX have distinguished themselves by moving beyond theory into active development.
- Tokenizing RWAs promises benefits like transparency, liquidity, faster settlement, and broader access to investors.
Real-world assets (RWAs) are things like real estate, commodities, equities, or other legally recognized financial instruments that can now be represented on a blockchain. In 2025, the total value of tokenized RWAs on public blockchains has climbed to $29.17 billion, up 8.24% in just the last 30 days.
The growth is visible across the board. There are now 387,103 holders of tokenized assets, an increase of 9.45% over the past month. On the supply side, 210 issuers are actively creating these assets, expanding the ecosystem further. Stablecoins, which are often the gateway into RWAs, dominate with their combined value reaching $278.87 billion, up 6.05% in 30 days, with 191.48 million holders, a modest but steady 0.79% increase.
The analytics platforms are taking notice. Santiment recently shared a ranking on X, highlighting Chainlink, Avalanche, Stellar, and Hedera (HBAR) as the blockchains leading the charge in real-world asset tokenization. Other networks that followed include Ondo Finance (ONDO), VeChain (VET), and Algorand (ALGO).
Chainlink (LINK)
Chainlink has held onto the top spot on Santiment’s RWA list for a while now. Its latest initiative with DigiFT and UBS Tokenize just won approval under Hong Kong’s Cyberport Blockchain and Digital Asset Pilot Subsidy Scheme. In this setup, Chainlink’s infrastructure will handle the transaction flow through its Digital Transfer Agent (DTA) smart contracts, which then trigger key actions on UBS’s tokenized fund contracts, whether that’s issuing new shares, redeeming them, or managing other lifecycle events.
While not every oracle usage is strictly RWA tokenization, Chainlink’s tools like CCIP and its data feeds are often cited in the context of RWA because of data reliability and security. Adding to this, SEC filings show that Grayscale has submitted paperwork for a Chainlink ETF. If it gets the green light, LINK could surge toward $30 and possibly edge closer to its all-time high of $52.
Avalanche (AVAX)
Last week, CNF highlighted that Avalanche’s RWA market has surged to $305.25 million, a massive 57.3% jump in just 30 days. That momentum is backed by 7,725 RWA holders and 39 active RWA assets already running on the network. AVAX has climbed 15% over the past week to $28.59, even as its daily trading volume dipped 47% to $962 million.
The platform’s architecture, which includes fast finality and relatively low gas/transaction costs, makes it a good choice for developers who want to build RWA solutions, whether that’s tokenized real estate, yield-bearing assets, or stablecoins tied to real assets.
Stellar (XLM)
Stellar has secured its spot among the top RWA projects, now boasting more than $511 million in tokenized assets, a 12.87% jump in the past 30 days. A big part of this comes from the September 2025 rollout of Protocol 23, which introduces parallel transactions to boost scalability.
We also noted Stellar’s alliance with the ERC-3643 Association to push forward tokenization standards. Its integration of assets like PYUSD and EURCV underscores that tokenization on Stellar is already happening at scale.
Analysts note that September will be a decisive month for Stellar’s price action. If momentum builds, XLM could rebound toward $0.55. For now, XLM is trading at $0.3942, testing major support at $0.38.
Hedera (HBAR)
Hedera is among the top blockchains because it uses its own consensus method called hashgraph, which lets transactions finalize in just seconds while handling a high volume at once. That kind of speed is a big win for tokenization, where asset ownership needs to be updated quickly and reliably.
In July 2025, Hedera took part in Project Acacia, an Australian pilot run by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC), which explored digital money and tokenized markets Hedera’s DeFi ecosystem currently holds about $121.78 million in total value locked (TVL), with a market cap of $10 billion and its token trading around $0.24.
