Stellar is extending its institutional footprint on two fronts: real-world asset tokenization is expanding, and U.S. Bank has completed a live stablecoin pilot on the network. Data shared by X Finance Bull show private equity tokenized on Stellar grew 57.05% over 30 days to $26.9 million, the fastest increase among reported asset categories. Active strategies hold about $1.7 billion, or 38.41% of reported value, while U.S. Treasury debt follows with roughly $1.4 billion and a 31.39% share. Together those two categories represent almost 70% of Stellar’s tokenized asset value.
Other categories were mixed. Corporate credit held approximately $516.8 million and changed only 0.01%, non-U.S. government debt fell 8.81% to $262.3 million, real estate stayed at $71.7 million, stocks declined 3.54% to $27.3 million, commodities lost 6.22%, and specialty finance rose 1.00% to $4.5 million.
U.S. Bank announced it completed a live pilot transaction on September 9, 2026, using its proprietary dollar-backed stablecoin USBDC to transfer value between North American and European entities via Stellar’s public blockchain. The bank tested minting, payment, redemption, freezing and clawback functions, and linked the chain to its Digital Asset Platform for finance, risk, compliance and operations. CEO Gunjan Kedia called the transaction a step forward and said the bank is studying liquidity management, collateral mobility and cross-border treasury services.
Separately, Franklin Templeton’s real-world assets under management on Stellar surpassed $1.1 billion on November 5, 2026, driven by inflows into the Franklin OnChain U.S. Government Money Fund, or BENJI. The asset manager launched the SEC-regulated fund in April 2021 and uses Stellar as its primary public registry. By contrast, its XRP Ledger deployment holds about $200 million after a late-October issuance of $150 million in sgBENJI shares structured with DBS Bank and Ripple; those assets are concentrated in a single multi-signature wallet with eight authorized keys. On-chain metrics from Allium indicate Stellar hosts about 970 BENJI holders, roughly 95% of the fund’s owner base across nine blockchains. BENJI’s cumulative return since inception is 17.74%, with a 0.15% annual management fee and five-to-seven-second settlement. The broader tokenized U.S. public debt and money market sector recently surpassed $38 billion, with BlackRock’s BUIDL and Franklin Templeton’s BENJI among the largest institutional products.
The announcements validate Stellar’s institutional use, but demand for XLM still depends on commercial deployment and actual network usage.
