Welcome to the first edition of our Stellar Ecosystem Overview.
Stellar is an open-source, layer-1 blockchain focused on real-world asset tokenization and payments. The network is designed to move and issue capital at low cost, featuring near-instant settlement with on- and off-ramps across 200+ countries.
The native asset controls on the Stellar network make it easier for compliance teams to enforce critical controls—such as authorization (or allow-listing), freezing, and clawback—directly at the protocol level rather than relying on issuer-written smart contracts.
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By the numbers
Total value locked: $226.7M
Stablecoin market cap: $334.4M
Stablecoin 30d transfer volume: $5.59B
RWA distributed value: $3.03B
RWA holders: 18.4K
Lifetime network uptime: 99.99%
The percentages are accurate at the time of publication.
A Big Move We’re Watching: Tradable eyes Stellar for tokenized credit
Diving deeper into some of the biggest updates from Stellar.
Tokenization platform Tradable is planning to tokenize up to $1 billion in private credit assets on Stellar. Tradable would leverage Stellar’s blockchain to handle the full lifecycle of a private credit deal, including investor onboarding, compliance controls and ongoing operations.
Private credit is difficult to trade because it represents loans made by private funds directly to companies. Tokenizing such debt instruments makes them easier to transfer, track and manage, which is why private credit has become one of the most active categories in tokenization, currently worth $7 billion, a 23% improvement since January.
Tradable has already executed at this scale, having tokenized $2.18 billion across 48 private credit positions on ZKsync. Stellar will be the platform’s second network for deploying tokenized credit instruments.
Stellar currently has $530 million worth of tokenized credit, so Tradable's move would nearly triple the network's tokenized credit base.
Tradable is the latest to join a small but growing list of institutional issuers that have chosen Stellar for tokenizing real-world assets: Spiko ($1.2 billion), Franklin Templeton ($573.4 million), and WisdomTree ($37.7 million) are already integrated with the network.
Exploring Stellar’s institutional side
Stellar’s total RWA value hit $3 billion on July 8. Spiko's money market and overnight swap funds account for roughly $1.25 billion, or 41.6% of total value, while Franklin Templeton's BENJI, gBENJI, sgBENJI together account for $603 million, or 20%. Ondo's U.S. Dollar Yield comes in third at $532.4 million, making up 17.6%. Unlike networks like Ethereum and Solana that are dominated by U.S. Treasuries, euro-denominated products are the majority on Stellar.
Stellar deployed Confidential Tokens to its testnet on June 29. The feature adds a wrapper contract that hides balances and transfer amounts for any asset on the network, while keeping sender and recipient addresses visible. The wrapper is meant for use cases like treasury management, payroll, and institutional settlement, where the counterparties are usually known but transfer amounts can be sensitive.
Sentora launched a curated vault on Stellar, offering vault curation, risk management and policy enforcement for institutions. The product allows treasuries and fintechs to deploy funds without having to define parameters like position limits and acceptable risk levels themselves.
MoneyGram launched its U.S. dollar-backed stablecoin, MGUSD, on Stellar. The stablecoin will be usable from the MoneyGram app, so customers can dollar balances in self-custodial wallets and move funds across the ecosystem. The launch extends a five-year MoneyGram-Stellar relationship focused on stablecoin remittances.
Diving into Stellar’s ecosystem
Alchemy launched indexed Data APIs for transfer history, token balances, and NFT holdings on Stellar. The product lets developers retrieve account data in a single API call, removing the need to run their own indexing infrastructure.
Allium has created an analytics dashboard for Stellar. Some metrics that caught our eye include: monthly payment operations by type, stablecoin transfer volume by asset, RWA holders by issuer, stablecoin velocity, and bridge inflows by source chain.
The Stellar Development Foundation has joined the x402 Foundation, the organization focused on developing the x402 protocol. The open source infrastructure allows AI agents, APIs, and applications to send payments directly over HTTP. Notable members of the foundation include Coinbase, Visa, Mastercard, American Express, Stripe, Google and AWS.
Aquarius launched XAUm, tokenized gold that is 1:1 backed, LBMA-accredited and audited by Bureau Veritas.
MoneyGram, Figure and Range have joined Stellar as tier 1 validators to help secure and run the network.
Lock in to the ecosystem
Check out the latest job postings on the Stellar Development Foundation.
Stellar is hosting a Stellar House in São Paulo, Brazil on August 6. The event will feature panels, focused roundtables, and fireside conversations covering its institutional ecosystem.
Attend Meridian 2026, the Stellar Development Foundation’s annual conference, in Lisbon, Portugal from October 28-29, 2026.
Until next time!
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.