# On-chain real-world asset market growth > Live situation record from CLSTR: https://clstr.news/situations/on-chain-real-world-asset-market-growth > Updated: 2026-09-18T23:12:13.000Z. Sources: 4. Developments: 2. The market for on-chain tokenized real-world assets (RWAs) has seen significant growth and expansion. Early reports indicated the sector had surpassed $46.2 billion in market capitalization, including instruments such as treasuries, equities, and credit funds. Within this landscape, the Stellar network emerged as the third-largest blockchain by RWA market capitalization, holding $3.3 billion in assets, driven largely by the Spiko-issued Amundi overnight swap fund and Ondo Finance’s USDY token. Subsequent analysis by Binance Research highlighted an 85.2% increase in on-chain RWA assets under management since the beginning of the year, reaching $34.18 billion as of mid-September. Bonds and money market funds represent the largest segment at $18.29 billion, while equity-based RWAs experienced a surge of 390.4%. Market maturity is being evaluated through new metrics: the Programmable Asset Ratio (PAR), which remains low at approximately 0.01%, and the Capital Activation Rate (CAR), which stands at about 12%. While private credit shows high utilization at 49.67%, researchers suggest the market is transitioning from simple asset issuance toward greater active financial utility on the blockchain. ## Timeline ### 2026-09-18: Binance Research reports 85% growth in on-chain Real World Assets On-chain Real World Asset (RWA) AUM grew 85.2% this year to $34.18 billion, driven by bonds and a 390.4% surge in equities, according to Binance Research. 2 sources. https://clstr.news/cluster/binance-research-reports-85-growth-in-on-chain-real-world-assets ### 2026-09-11: Stellar reaches $3.3 billion in tokenized real-world assets On-chain real-world assets (RWAs) have reached a $46.2 billion market cap, with Stellar ranking third at $3.3 billion following the launch of new payment rails. 2 sources. https://clstr.news/cluster/stellar-reaches-33-billion-in-tokenized-real-world-assets --- Cite as: On-chain real-world asset market growth. CLSTR, https://clstr.news/situations/on-chain-real-world-asset-market-growth