Size and dynamics. The on-chain value of tokenized real-world assets (excluding stablecoins) reached $33.5 billion in July 2026 according to rwa.xyz (reference dashboard), approximately 4x the level at the start of 2025; Chainalysis reports ~$31 billion (+400%), Canton ~$36 billion? the discrepancy is methodological, not contradictory. In "represented" value (underlying assets referenced), rwa.xyz reports ~$218–369…
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