Tokenized RWA Sector Defies Market Weakness; 1inch–Ondo Volumes Break $2.5B - Crypto Economy

TL;DR:

• Tokenized stock and ETF trading via 1inch and Ondo topped $2.5B since Sept. 2025, making RWAs 1inch’s fastest-growing volume category as markets stayed weak.
• BNB Chain generated about $2B across 1.3M transactions; peak users neared 24,800 and typical swaps were $1,400, led by Nvidia, Tesla, Google, Netflix and silver.
• Ethereum RWA TVL neared $15B, up ~200% yearly; tokenized Treasuries rose $1B+ since 2026 start, while RWAs gained 13.5% as crypto shed $1T.

Tokenized real-world assets are emerging as a bright spot in a softer crypto market, and exchange operators are treating that resilience as a strategic growth lane. Since September 2025, trading in tokenized stocks and ETFs routed through 1inch’s integration with Ondo has surpassed $2.5 billion, based on Dune data. 1inch says RWAs are its fastest-growing volume category. The takeaway is RWAs are bucking the broader slump and keeping onchain activity investable. While a minority of total flow, co-founder Sergei Kunz said the direction of travel is accelerating fast.

1inch and Ondo flows on BNB Chain

Most of the activity is clustering on BNB Chain, where $2 billion of volume has been generated across more than 1.3 million transactions, with peak active users nearing 24,800 in a period. Kunz attributed the pace to a low-friction user experience and BNB Chain’s retail distribution, saying it is happening faster and more retail-sized than on Ethereum. Typical swap size is $1,400, which he framed as intent-driven capital. Here, retail tickets are compounding into institutional scale. Popular tokens are Nvidia ($354 million), Tesla ($332 million), Google ($249 million), Netflix ($98 million) and silver ($225 million).

The RWA narrative is expanding beyond one venue. Ethereum’s RWA total value locked has climbed to nearly $15 billion, up roughly 200% over the past year, making it one of the few consistent growth stories in the cycle. Tokenized US Treasuries are a key driver: the report said their market cap has risen by over $1 billion since the start of 2026, about a 50x increase since 2024, with products like BlackRock’s BUIDL pulling fixed income onchain. RWAs are rising as the broader market slumps. Onchain RWA markets rose 13.5% as crypto shed $1 trillion.

Kunz framed the model as distribution infrastructure rather than issuance. He said 1inch remains non-custodial and does not issue the RWAs, with eligibility and jurisdictional controls enforced at the issuer level while 1inch focuses on routing, APIs and disclosures. That separation matters for compliance-minded firms scaling tokenized stocks and ETFs across chains. Looking ahead, he expects RWAs to take the “next leap forward” only when liquidity depth, standards and regulatory clarity align. The strategic endgame is RWAs becoming everyday DeFi financial plumbing instead of a side bet. Until then, exchanges iterate on liquidity and UX.