RWA Weekly: Franklin adds $152M, Base tops three boards — November 2, 2026

RWA Weekly: Franklin adds $152M, Base tops three boards: source data, figure 1. Analysis is provided in the surrounding text. — FIGURE 01 · RWA Foundation · original reportDownload chart ↓

Tokenized assets now sit at $339.4B, held by 325.4M wallets.

That number is two markets combined. Stablecoins are $293.6B of it. RWAs are $45.8B.

All weekly numbers are the past 7 days, via @tokenterminal.

01Stablecoins vs RWAs

Stablecoins are 87% of the value and 98% of the holders. 318.6M wallets hold stablecoins. 6.7M hold RWAs.

RWAs are the long tail. 14,472 assets from 219 issuers, against 252 stablecoins from 202 issuers.

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoins vs RWAs, figure 2. Analysis is provided in the surrounding text. — FIGURE 02 · RWA Foundation · original reportDownload chart ↓

RWAs on their own are $45.8B across 37 chains.

Down 2.2% over 30 days and 0.6% over 90. Up 4.2% over 180.

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoins vs RWAs, figure 3. Analysis is provided in the surrounding text. — FIGURE 03 · RWA Foundation · original reportDownload chart ↓

02The winners

Biggest issuer move of the week was @FTDA_US adding $151.8M in tokenized funds.

By chain, @solana led funds with +$217.7M and @Arc led stablecoins with +$135.5M.

03Stablecoins

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoins, figure 4. Analysis is provided in the surrounding text. — FIGURE 04 · RWA Foundation · original reportDownload chart ↓

Open Standard added $54.8M in stablecoin market cap.

The next 8 issuers combined added $42.1M. Open Standard beat all of them together.

Unity USD was second at +$9.0M, then Braza +$8.1M and M^0 +$6.9M.

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoins, figure 5. Analysis is provided in the surrounding text. — FIGURE 05 · RWA Foundation · original reportDownload chart ↓

By chain, Arc led with +$135.5M. That's 2x Tempo in second (+$66.4M).

@base +$58.1M, Sui +$23.2M and @0xPolygon +$18.0M round out the top five.

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoins, figure 6. Analysis is provided in the surrounding text. — FIGURE 06 · RWA Foundation · original reportDownload chart ↓

@Tether added 1.9M stablecoin holders. That's 6.1x Circle in second (+309.0K).

Nobody else cleared 25K.

04Tokenized funds

RWA Weekly: Franklin adds $152M, Base tops three boards: Tokenized funds, figure 7. Analysis is provided in the surrounding text. — FIGURE 07 · RWA Foundation · original reportDownload chart ↓

Franklin Templeton led with +$151.8M. That's 1.9x @MidasRWA in second (+$78.3M).

Then Ondo +$27.8M, Tradable +$17.8M, 3Jane +$15.0M, OnRe +$11.3M and Re +$10.7M.

On the chain side, Solana (+$217.7M) and @StellarOrg (+$158.3M) took most of it. @base was third at +$54.9M.

05Tokenized stocks

RWA Weekly: Franklin adds $152M, Base tops three boards: Tokenized stocks, figure 8. Analysis is provided in the surrounding text. — FIGURE 08 · RWA Foundation · original reportDownload chart ↓

Closest race of the week.

Binance bStocks +$30.5M, @OndoFinance +$29.9M, xStocks +$26.1M. $4.4M between first and third.

Same story by chain. X Layer (+$32.9M) beat @BNBCHAIN (+$32.1M) by $800K.

06New holders by chain

RWA Weekly: Franklin adds $152M, Base tops three boards: New holders by chain, figure 9. Analysis is provided in the surrounding text. — FIGURE 09 · RWA Foundation · original reportDownload chart ↓

@BNBCHAIN added 1.3M stablecoin holders. That's 4.6x Tron in second (+284.1K).

For tokenized stocks, Solana added 92.2K holders and Robinhood Chain 38.2K. Backpack led issuers with +50.0K.

Funds holders move in the hundreds, not the thousands. Stellar +440, Spiko +442.

Holders are wallets, not individuals.

07Base had a week

RWA Weekly: Franklin adds $152M, Base tops three boards: Base had a week, figure 10. Analysis is provided in the surrounding text. — FIGURE 10 · RWA Foundation · original reportDownload chart ↓

@base was #1 on three boards:

Stablecoin DeFi TVL, +$306.3M (5x @avax in second)
Tokenized stock DEX volume, +$196.1M
Tokenized funds DeFi TVL, +$66.2M

Stock DEX volume went the other way on Solana (−$57.3M) and Robinhood Chain (−$16.8M).

08Morpho

RWA Weekly: Franklin adds $152M, Base tops three boards: Morpho, figure 11. Analysis is provided in the surrounding text. — FIGURE 11 · RWA Foundation · original reportDownload chart ↓

@Morpho led DeFi TVL growth by venue in two categories.

+$150.8M in stablecoins across Morpho Blue and Midnight. That's 6.7x @aave V4 in second.

+$12.0M in tokenized funds, 2.1x Orca.

09Stablecoin DEX trading

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoin DEX trading, figure 12. Analysis is provided in the surrounding text. — FIGURE 12 · RWA Foundation · original reportDownload chart ↓

Ethereum added $8.8B in stablecoin DEX volume. That's 7.3x Tron in second (+$1.2B).

Hyperliquid +$739.7M across HyperCore and HyperEVM, then BNB Chain +$545.4M.

RWA Weekly: Franklin adds $152M, Base tops three boards: Stablecoin DEX trading, figure 13. Analysis is provided in the surrounding text. — FIGURE 13 · RWA Foundation · original reportDownload chart ↓

By venue, @Uniswap led with +$4.6B across V3 and V4. That's 1.9x Aerodrome in second (+$2.4B).

Fluid +$1.6B, PancakeSwap +$1.5B and SunSwap +$1.2B round out the top five.

10Pendle and tokenized stocks

RWA Weekly: Franklin adds $152M, Base tops three boards: Pendle and tokenized stocks, figure 14. Analysis is provided in the surrounding text. — FIGURE 14 · RWA Foundation · original reportDownload chart ↓

@pendle_fi led tokenized stock DeFi TVL growth with +$5.7M. That's 3x Aerodrome in second (+$1.9M).

Meteora +$1.8M and Uniswap +$1.5M after that.

That's the week. Data via @tokenterminal. Versions and pools of the same protocol are combined.