RWA is entering a new phase: tokenizing an asset is no longer enough. What matters is what you can do with it next🙌
According to исследования, as of September 15, 2026, RWA AUM reached $34.18 billion, up 85.2% year-to-date. Tokenized stocks are growing the fastest—+390.4% YTD.
But the market is still tiny: roughly 0.01% of underlying markets are tokenized.
And this is where a new metric comes in—CAR (Capital Activation Rate): how much already-tokenized capital is actually being used on-chain—in liquidity pools, lending, and other financial applications.
Right now, the overall CAR is about 12%.
Stocks are especially interesting: their on-chain balance is already $4.43 billion, and the CAR rose from 1.95% to 7.54% over the year. At the same time, 93.5% of the deployed value comes from liquidity pools and lending.
👉 So the next RWA stage is no longer just:
“How many assets did we move on-chain?”
But:
“How much of them is actually working?”
The shift from tokenization → utilization → activation could become the next RWA growth driver✍️
According to исследования, as of September 15, 2026, RWA AUM reached $34.18 billion, up 85.2% year-to-date. Tokenized stocks are growing the fastest—+390.4% YTD.
But the market is still tiny: roughly 0.01% of underlying markets are tokenized.
And this is where a new metric comes in—CAR (Capital Activation Rate): how much already-tokenized capital is actually being used on-chain—in liquidity pools, lending, and other financial applications.
Right now, the overall CAR is about 12%.
Stocks are especially interesting: their on-chain balance is already $4.43 billion, and the CAR rose from 1.95% to 7.54% over the year. At the same time, 93.5% of the deployed value comes from liquidity pools and lending.
👉 So the next RWA stage is no longer just:
“How many assets did we move on-chain?”
But:
“How much of them is actually working?”
The shift from tokenization → utilization → activation could become the next RWA growth driver✍️
