Real-world asset (RWA) tokenization has gained significant momentum on blockchains like Ethereum and XRP Ledger in recent years. This trend is driven by a broader push to bring more traditional assets into the crypto space, offering investors access to more stable options. While Ethereum and XRP Ledger are often the first names mentioned in RWA discussions, they are not the networks with the most users in this sector.
Ethereum leads in terms of the total value of tokenized RWAs, holding over $15.4 billion. However, it ranks only third in the number of RWA holders, with just over 153,000 users according to data from RWA.xyz.
The Solana network recently surpassed Ethereum in holder count, crossing 157,000 this week, but it still places second. The clear leader in RWA holders is the Plume network, which has over 263,000 users—a significant lead of more than 100,000 over both Solana and Ethereum. Despite its high user count, Plume ranks much lower in total value (excluding stablecoins), sitting in 11th place with $340 million.
In contrast, the XRP Ledger shows a surprisingly low number of RWA users at just 3,795, despite Ripple’s active efforts in tokenization. However, it holds a considerable total RWA value of $1.94 billion.
Other notable blockchains in the RWA space include BNB Chain, with over 39,500 users and $2.656 billion in value, along with Stellar and Polygon, which have 9,317 and 15,470 users, respectively.
Overall, the RWA sector represents a total value of $336.08 billion, with the vast majority—$301.04 billion—held in stablecoins. The remaining distributed asset value across 33 blockchains is $26.43 billion, most of which is controlled on the Ethereum network.
Frequently Asked Questions
Of course Here is a list of helpful FAQs about the surprising network leading in Real World Asset users written in a natural conversational tone
Beginner Definition Questions
1 What are RWAs in crypto
RWAs are traditional tangible assets like real estate government bonds commodities or invoices that are tokenized on a blockchain This makes them easier to trade divide and manage
2 What does it mean for a network to have the most RWA users
It means that blockchain has the highest number of unique wallet addresses actively interacting with applications specifically designed for tokenizing trading or managing realworld assets
3 Okay so which network actually has the most RWA users if its not Ethereum or XRP
The answer is Stellar Recent onchain data shows Stellar has a significantly higher number of active users engaging with RWA protocols than other major blockchains
4 Why is that surprising Doesnt Ethereum dominate everything in crypto
It is surprising because Ethereum is the largest platform for decentralized finance overall However Stellar has quietly built a strong niche in tokenizing assets for payments and financial institutions which has given it a lead in active RWA adoption
Benefits Why Questions
5 What are the main benefits of putting RWAs on a blockchain like Stellar
Key benefits include 247 global trading fractional ownership faster and cheaper settlement compared to traditional systems and increased transparency in ownership records
6 Why would Stellar be good for RWAs specifically
Stellar is designed for fast lowcost payments and asset issuance Its simpler and more efficient for representing currencies and assets that need to move quickly between institutions and people which aligns perfectly with many RWA use cases like stablecoins and tokenized bonds
7 Does this mean Stellar is better than Ethereum for RWAs
Not necessarily better in all aspects but it is more specialized for certain RWA applications particularly those focused on crossborder payments and compliance Ethereum excels in complex DeFi and smart contracts while Stellar excels in efficient regulated asset transfers