New issuance drove the growth, just over 3 days since Sunday:
• $1.11B in new tokens minted • $213M burned • $898M in net new supply
Here's the daily breakdown:
Monday: +$271M in net supply, offset by a $150M price decline Tuesday: +$428M in net supply, offset by a $245M price decline Wednesday: +$199M in net supply, plus an $85M price gain.
xStocks ($562M) and Binance bStocks ($453M) accounted for 91% of all new minting.
As tokenized stock supply grows, so does the potential pool of onchain collateral. Eligible tokenized stocks can be used to mint USDf on Falcon Finance.
Nvidia, Nike and Reddit are among 50 companies objecting to third-party tokenized versions of their shares trading on OKXICE’s planned venue.
Their objections come during a busy week for tokenized stocks.
DTCC’s tokenization service went live, with 20 firms, including J.P. Morgan, Citi and Morgan Stanley, signing access agreements. Ondo brought 15 tokenized stocks and ETFs to Robinhood Chain.
It would be easy to frame this as financial firms embracing tokenization while issuers resist it, but the evidence doesn’t support that conclusion. The objections concern a specific venue, and the companies’ reasons haven’t been disclosed.
What deserves closer attention is how each offering works and what it allows holders to do.
On Falcon, eligible tokenized stocks can already be used to mint USDf, giving holders access to liquidity without selling those assets.
That’s a practical use worth examining as more stocks become available onchain.
Borrowing against stocks, bonds, gold and property has been common in TradFi for decades.
In crypto, collateral has mostly been limited to BTC, ETH and stablecoins.
That's changing as more assets move onchain. Tokenized Treasuries, stocks, credit and gold are becoming part of the collateral market. Local-currency stablecoins and emerging-market government bonds are joining the mix too.
At Falcon, we're expanding the range of assets that can be used to mint USDf, giving holders access to onchain liquidity while keeping their exposure to the underlying assets.
$15.6B worth of tokenized stocks traded onchain in September, a new record. Robinhood accounted for 42%.
Trading is just the beginning, the next step is putting those assets to work.
On Falcon, 5 Robinhood Stock Tokens can already be used as collateral to mint USDf, giving holders access to dollar liquidity while keeping their stock exposure.