RWA

Tokenization activity is increasingly landing on Solana, including Exodus Markets’ rollout of more than 200 tokenized stocks, ETFs, and RWAs, plus plans to bring Securitize’s tokenized AAA CLO fund to the network alongside a proposed $250 million allocation from Ethena. At the same time, SOL remains below $100 and has been in a broader downtrend for nearly eight months, highlighting a gap between on-chain adoption and price performance.

On June 11, 2026, the U.S. SEC proposed rescinding Regulation NMS Rule 611 and Rule 610(e), a market-structure change that could materially affect how tokenized U.S. equities trade in DeFi. The proposal enters a 60-day public comment period and would replace trade-by-trade NBBO enforcement with a principles-based best-execution approach at the broker-dealer level.

Binance halted its SPCXx tokenized SpaceX offering after it and other exchanges could not obtain enough SpaceX shares to support the product. The campaign drew about $557 million in subscriptions, and Binance said user funds will be refunded in USDC and that an additional $1 million compensation program will be provided. The exchange stated refunds will be completed by June 12, with related airdrop credits expected by June 18.

On June 12, 2026, Mantle said it listed SPCXx, a tokenized SpaceX equity issued by xStocks, enabling 24/7 on-chain trading and liquidity provision on Mantle starting the day SpaceX completes what it calls the largest IPO in history. Fluxion will offer issuer-direct minting using xStocks' Atomic RFQ to avoid AMM slippage, while Merchant Moe launched Project X with up to 100,000 MNT rewards beginning with the SPCXx/USDT0 pool.

Ethereum remains the largest hub for tokenized real-world assets at about $14.65 billion, but the latest flows show activity spreading across multiple chains. Over the past 30 days, Ethereum’s tokenized RWA base fell by nearly $1.63 billion, while Stellar added roughly $810 million (up 63%), and Base, Avalanche, and Aptos rose by 46%, 45%, and 38%. In Q1 2026, Solana’s RWA value jumped 58% quarter-on-quarter and moved above $2.5 billion, with RWAs representing 17% of its total TVL.

Figure Technology Solutions agreed to buy Kiavi’s technology and operating platform in a $717 million deal, aiming to place more private-credit lending activity onto its blockchain marketplace. Figure said the transaction could add more than $7 billion in annual first-lien loan volume and over $100 million in monthly flow to its Democratized Prime platform, while targeting a $200 billion annual origination market.

Binance said on June 11 it began offering Bstocks, a set of fully backed tokenized securities that track select U.S. equities and can be traded fractionally 24/7. The BEP-20 tokens are convertible 1:1 with underlying shares bought via Nest Trading Limited, with fractional trading starting at $5 and no conversion fees.

On June 11, 2026, Citigroup rolled out a blockchain-based marketplace aimed at wealthy and institutional clients to trade tokens that represent ownership interests in private companies. The offering is set to start with foreign investors, as Citi explores participation with several large private firms that it has not publicly named.

Binance says tokenized stocks and ETFs are increasingly being traded via crypto platforms, with emerging markets accounting for 93% of current volumes. The exchange's research projects that by 2031, crypto exchanges could add US$2T in incremental capital and nearly 300M new users to global equity markets, with a bullish scenario of up to $5 trillion. The report also flags risks, including higher volatility in RWA perpetuals, unequal tokenized stock terms, and government crackdowns that could restrict capital flows.

UAE-based ASK Group and U.S. blockchain firm Keeta have formed a joint venture to build a public exchange that turns commodities such as oil, gold, silver and copper into fractional tokens, with a planned launch by 2027. The project targets 1-to-1 reserve backing with audited holdings, 400-millisecond settlement, and on-chain proof of reserves, while also positioning Keeta's Layer 1 network for cross-border remittances.