By the CBC Blockchain Services Research Desk | Published: 6th November, 2026| Category: Research | Tokenisation
Tokenised stocks have become the fastest-moving corner of real-world asset (RWA) tokenisation. Their combined market cap rose 65.1% in three months to $4.63 billion, DTCC launched its Tokenization Service, and Securitize opened on-chain access to 12 major U.S. equities. At the same time, a new SEC exemption is being tested, and some of the biggest names in finance are pushing back. This is the October 2026 picture.
Tokenisation Metrics: October 2026
| Metric | Value | 30-day change |
| RWA distributed asset value | $39.32B | +2.06% |
| Number of RWA holders | 5.4M | +10.48% |
| Total stablecoin value | $287.94B | -2.25% |
| Daily RWA transfer volume | $5.37B | +37.37% |
| Tokenised Treasuries total value | $14.59B | -0.27% |
| Tokenised private credit (active loans) | $8.15B | +1.80% |
Figures were accurate at the time of the original publication on 28 October 2026. Percentage changes cover a 30-day period.
What the numbers say
- Stocks and credit drove growth. Tokenised stocks and tokenised credit each added roughly $570 million over 30 days, which accounts for nearly all of the month’s increase in distributed RWA value.
- Holders are growing faster than value. Holders rose 10.48% against 2.06% for value, mostly because of equities. Tokenised stocks now have 4.51 million holders, about 83% of all RWA holders.
- Treasuries are still the largest category. At $14.59 billion, tokenised treasuries were flat on the month but make up about 37% of distributed value.
- Ethereum leads by chain. It holds $15.9 billion, or 40% of distributed value, followed by BNB Chain ($6.3 billion) and Solana ($4.9 billion).
What Caught Our Eye This Month
OKXICE files for a 24/7 tokenised stock venue
OKXICE, a joint venture between OKX and NYSE parent ICE, filed a public notice with the SEC on 4 October. It plans to run a 24/7 tokenised U.S. stock venue under the SEC’s new Innovation Exemption, starting with 63 tickers.
The exemption gives companies 30 days to object to third parties tokenising their shares. As of Monday 26 October, 26 objections had been filed, from firms including Goldman Sachs, Wells Fargo, Microsoft, Alphabet and McDonald’s. They cover 23 of the 62 companies on the original launch list, about 37%.
DTCC launches its tokenisation service.
DTCC launched its Tokenisation Service with 34 securities eligible for tokenisation, drawn from select Russell 1000 stocks, ETFs and U.S. Treasuries.
- Tokens are backed 1:1 by the underlying security and keep the original investor rights.
- They can trade 24/7 between registered wallets on the same chain.
- DTCC keeps the official books and records.
- The service is live on Canton and DTCC’s private Besu network. Stellar and Circle’s Arc are expected in 2027, along with onchain settlement, collateral and digital cash features.
The launch follows July production trades in which more than 30 firms, including BlackRock, Goldman Sachs and Citadel Securities, ran collateral, lending, repo and equity workflows using DTCC-tokenized assets.
Securitize launches Securitize Stocks
Securitize Stocks gives investors in the U.S., EU and other jurisdictions on-chain access to 12 major equities, including Apple, Nvidia, Tesla and Circle.
- Each token is backed 1:1 by a real share and structured as a legal security entitlement, so holders keep dividends and voting rights. Securitize says the backing shares are never lent out.
- After markets close, investors can trade on Securitize’s Solana-based Proprietary Automated Market Maker (PropAMM), with settlement in USDC. Jump Trading is the market maker.
- The tokens are also planned for NYSE’s digital venue and OKXICE. Support for Aave’s collateral markets and conversion to direct issuer-registered shares are in the works.
Chart of the Month: Tokenized Stocks by Issuer
Tokenized stocks’ total market cap rose 65.1% over three months to $4.63 billion. Binance’s bStocks grew fastest among the large issuers, up 108.7% to $1.39 billion, which made it the largest issuer. It overtook Ondo, which grew 43.7% to $1.32 billion.
| Issuer | Market cap | 90-day change |
| Binance (bStocks) | $1.39B | +108.7% |
| Ondo | $1.32B | +43.7% |
| xStocks | $1.06B | +86.3% |
| Securitize | $230.4M | +30.4% |
| Robinhood | $178.4M | +31.3% |
Data as of 28 October 2026. Source: Token Relations and Token Terminal.
Additional RWA and Tokenisation Developments
- Cboe and S&P Dow Jones Indices extended their exclusive licensing partnership by 25 years. Cboe keeps sole rights to list S&P 500 Index (SPX) options through 2051. The deal names tokenised options as a possible area for collaboration, but no product or timeline has been announced.
- Blockchain.com and NYSE Group signed an MOU to give Blockchain.com users access to tokenised U.S. stocks and ETFs through NYSE’s planned 24/7 digital trading venue. NYSE gains a new distribution channel, and Blockchain.com can add NYSE and ICE feeds to its app.
- Ripple and DriveWealth are partnering on onchain funding, settlement and custody. It starts with RLUSD stablecoin settlement on the XRP Ledger in Europe, with a U.S. expansion planned later.
- The IMF examined the five most liquid tokenised U.S. equities across 11 venues over a full year in its latest Global Financial Stability Report. It found that more than half of tokenized equity trading happens outside regular U.S. market hours, and about 80% of trades were for less than one share. The IMF called systemic risk limited for now but said regulators should consider circuit breakers for 24/7 trading.
- Robinhood and T. Rowe Price are working on a Stock Token for an actively managed ETF on Robinhood Chain. It would be Robinhood’s first fund-backed Stock Token.
- Securitize and LG CNS signed an MOU to develop tokenised assets and digital asset infrastructure for Korean financial institutions. It covers institutional market development, products suited to Korean rules, and stablecoin and treasury infrastructure. Longer term, they will explore linking Korean and global markets for 24/7 distribution and settlement.
- Canton processed its first over-the-counter (OTC) derivatives trade on the Derivnex platform. It referenced a tokenised version of an S&P bond index and takes the network beyond tokenised Treasuries, repos and equities.
- Ondo Finance launched Intelligent Portfolios, on-chain investment vehicles based on strategies BlackRock designed for Ondo. Each holds Ondo’s tokenised stocks and ETFs and is open to non-U.S. investors.
- Wells Fargo CEO Charlie Scharf said U.S. use cases for stablecoins are still unclear, but the bank is preparing for possible demand. It is one of 21 global institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank and UBS, forming a joint stablecoin company. It plans to launch a dollar token in the first half of 2027, with a euro version next. Wells Fargo has also launched tokenised deposits for corporate clients, starting with dollar-to-pound transfers, with 24/7 cross-border payments planned.
- Franklin Templeton and Animoca Brands partnered to offer Franklin’s tokenised real-world assets through NUVA, a vault marketplace backed by Animoca. They also published a four-part research series on how tokenisation is changing institutional portfolio construction and plan to explore tokenising cultural assets.
Tokenisation Term of the Month: Tokenised Securities Venue (TSV)
A tokenised securities venue is a trading platform where people can buy and sell tokenised stocks 24/7. The SEC’s 2026 Innovation Exemption lets such platforms operate without registering as a traditional stock exchange, as long as they follow its rules.
Example: OKXICE filed to become a Tokenised Securities Venue, letting investors trade tokenised versions of public companies’ shares after markets close.
What We’re Listening To
Digital Asset co-founder and CEO Yuval Rooz joined the Talking Tokens Tokenisation series. He discussed why privacy is non-negotiable for institutions, why many products called tokenized equities fall short, and why moving 1% of capital markets onchain would be the first real milestone.
Frequently Asked Questions
What is real-world asset (RWA) tokenisation? It means representing ownership of a real asset, such as a stock, Treasury bill or loan, as a token on a blockchain so it can be held and transferred onchain.
How big is the tokenised stock market in October 2026? Tokenised stocks had a total market cap of $4.63 billion, up 65.1% in three months. Binance’s bStocks is the largest issuer at $1.39 billion.
What is DTCC’s Tokenization Service? A service for tokenizing 34 eligible securities, including select Russell 1000 stocks, ETFs and U.S. Treasuries. The tokens are backed 1:1 and DTCC keeps the official records.
Source and Disclaimer
Data and original reporting: StrataMedia, Token Relations, State of Tokenisation: October 2026 (28 October 2026).
This article is for information only and is not financial advice or a recommendation to make any investment decision. Cryptocurrencies and tokenised assets are high risk. Consult a financial professional and do your own research.
