Headline: Mantle’s on-chain ecosystem tops $880M as stablecoins and tokenized assets surge Mantle’s on-chain treasury is now home to roughly $880 million in dollar-linked and tokenized instruments, underscoring the network’s rapid expansion into equities, Treasuries, commodities, yield-bearing products and other real-world assets. Big picture - Blockworks Research data shows Mantle’s circulating stablecoin supply is about $553.7 million, while tokenized assets add roughly $330 million — putting the combined total at ~$880 million. - Blockworks counts 985 distinct tokenized assets on Mantle, spanning commodities, public and private-company exposures, ETFs, a pre-IPO vault and the MI4 tokenized fund. - Other network metrics: Mantle’s treasury is estimated at ~$1.8 billion, cumulative spot DEX volume around $20 billion, and more than 150 deployed dapps. Stablecoins: concentrated but growing - Mantle supports seven stablecoins, but most dollar liquidity is concentrated in a single asset: USDT0 holds about $440.03 million — roughly 80% of the stablecoin supply on the network. - Other stablecoin supplies (dashboard snapshot): USDe $57.93M, USDC $34.15M, standard USDT $12.96M, AUSD $5.15M, USD1 $2.29M, and Aave’s GHO $1.23M. - Recent flows show momentum: a daily net inflow of $18.42M into USDT0 and $9.94M into USDC at the time of the reading. Over 30 days, USDC supply rose 33.93% and USDT0 increased 9.51%. - Smaller stablecoins posted faster percentage gains from low bases: GHO +203.5% and USD1 +190.89% over 30 days. By contrast, USDe fell 9.09%, standard USDT slid 2.28%, and AUSD edged down 0.09%. Tokenized assets and equities - Equities have become a larger part of Mantle’s catalog: Nansen counted 155 tokenized equities on the network at the end of June, up from 10 in April. These include tokenized exposure linked to names such as SpaceX and a Franklin Templeton U.S. Equity Index ETF. - In November 2025 Mantle integrated Backed’s xStocks via a Bybit partnership, bringing tokenized shares tied to Apple, Nvidia and other strategies onto Mantle. Backed reports its xStocks platform has processed over $1.6 billion in tokenized equity volume, with each token claimed to be one-to-one backed by securities held through licensed custodians in Switzerland. - Important caveat: tokenized equity products vary in legal design. Some give one-to-one ownership claims and custodial backing, while others are synthetic derivatives that only provide price exposure without shareholder rights. Investors must evaluate each product’s terms, issuer and distribution controls. RWA vault and yield strategies - Mantle opened a DeFi RWA vault on Aug. 25 after a prior Bybit-distributed version surpassed $200 million in assets under management. - The vault accepts USDC and USDT0 via Fluxion. The strategy is non-leveraged (designed by CIAN), Grove routes deposits to yield in the Sky ecosystem, and Fluxion provides the UI. - Deposits earn returns tied to sUSDS (Sky’s savings version of USDS); Sky governance sets the savings rate, so yields can change over time. Mantle listed a target APY of up to 6.5% including campaign incentives, plus Fluxion Points and an allocation of 5.14 million GROVE tokens — though actual returns depend on participation rules and token prices. - The non-leveraged structure reduces liquidation risk but leaves users exposed to smart-contract bugs, stablecoin price moves, liquidity conditions and governance-set savings-rate adjustments. The DeFi vault also shifts custody — users interact via their own wallets rather than exchange accounts. Regulatory context and market access - Industry voices highlight tokenization’s potential to keep capital onshore by routing assets through regulated local rails. Andrew Forson, president of DeFi Technologies, said regulated tokenization systems could help jurisdictions — including the UAE — retain investment activity instead of letting capital flow elsewhere. - Legal and regulatory questions persist. The GENIUS Act, for example, would bar payment stablecoin issuers from directly paying interest to holders, raising issues about how stablecoin-linked yields should be structured and described. Mantle and partners characterize the RWA vault returns as strategy-generated yield from sUSDS, with additional incentives provided separately. - Tokenized stock products likewise differ across issuers and regions. Crypto.com’s tokenized derivatives provide price exposure (but not legal ownership) to 1,500 U.S. equities and ETFs for eligible non-U.S. markets. In the U.S. market, traditional infrastructure is evolving: the Depository Trust Company received an SEC no-action letter in December 2025 to run a defined tokenization service for three years, planning to tokenise assets like Russell 1000 stocks, major ETFs, U.S. Treasuries and certain corporate bonds as part of a multi-chain strategy that includes Stellar, with an initial deployment target in H1 2027. Takeaway Mantle’s on-chain ecosystem is rapidly broadening beyond simple stablecoin liquidity into a diverse set of tokenized real-world assets and yield products. That growth brings new market opportunities — and renewed scrutiny over product legalities, custody models and regulatory treatment. Investors should review the specific terms, custody arrangements and jurisdictional availability of any tokenized instrument before participating. Read more AI-generated news on: undefined/news