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$XLM ▸ STELLAR ▸ PASS ETHEREUM IN SOVEREIGN DEBT TOKENIZED OUTSIDE THE US ˗ˋˏ🔥ˎˊ˗
An important dispute in the RWA market is starting to take shape—and Stellar has taken the lead in a very specific category.
According to RWA.xyz data cited by the Stellar Development Foundation, as of August 20 the network had around $490 million in tokenized sovereign government debt from countries outside the United States—more than any other blockchain. Stellar claims it has held the top spot in this category since February 2026.
🔥 And we’re not just talking about American Treasuries.
At Stellar, products linked to:
🇲🇽 Mexico’s CETES
🇧🇷 Brazil’s government bonds
🇪🇺 government instruments in euros
🇰🇷 South Korea’s sovereign bonds
🌎 digital debt from the Marshall Islands
Etherfuse tokenizes public securities (Mexican CETES and Brazilian bonds), while Spiko’s euro fund grew from $520 million to $970 million, with much of the expansion occurring on the Stellar network.
More broadly, the RWA market (excluding stablecoins) on Stellar jumped from about $500 million at the start of 2025 to more than $3 billion in June 2026, nearing $4 billion by the end of August, according to the latest data.
👀 There’s an important distinction: Stellar hasn’t surpassed Ethereum in all RWAs (tokenized real-world assets). Ethereum remains the leader in both US Treasuries and the total value of tokenized assets; Stellar’s lead is specific to non-US sovereign debt.
Governments and issuers’ interest in Stellar▸
$XLM ▸ is due to features such as settlement finality in about 5 seconds, minimal fees, multi-currency settlement, and compliance tools—along with
$USDC serving as digital liquidity for these settlements.
🔥 Maybe the next big battle in tokenization won’t just be putting Wall Street on-chain.
#stellar #XLM/
#RWA