Stellar's tokenized RWA market surged to $3B in July, driven by Treasuries and corporate credit, but DeFi adoption remains underdeveloped at $259M with minimal RWA liquidity in lending pools.
DeFi & Yields ·
Stellar's tokenized real-world asset market expanded to $3 billion in July, up from roughly $785 million at the start of the year, with tokenized Treasuries, money market funds, and corporate credit driving the gains. The growth reflects broader momentum in RWA tokenization across crypto platforms.
The DeFi layer built on Stellar, however, remains significantly smaller at approximately $259 million in total value. Blend, a lending protocol on the network, accounts for roughly $127 million of that total, though only slightly more than $2 million in RWA liquidity currently sits in Blend pools that accept tokenized assets.
The gap underscores a recurring pattern in RWA adoption: rapid expansion in custody and issuance infrastructure has outpaced integration into decentralized lending and trading mechanisms. It remains unclear what structural or market conditions would drive greater DeFi participation in Stellar's RWA offerings.