Tokenized stocks hit $4.63 billion, matching stablecoins’ March 2020 size

On-chain equities have grown from under $1 billion at the start of 2026, and the stablecoin comparison sets a high bar Tokenized stocks now carry a combined market cap of $4.63 billion , according to Token Terminal data as of October 28, 2026. That figure lines up with where stablecoins stood in March 2020. Stablecoins have since grown to roughly $297 billion, which means tokenized equities are being measured against one of crypto’s most successful growth stories. A tokenized stock is a blockchain token built to track the price of a share or fund.