Ondo Finance overtakes Sky, leads tokenized RWA market with $4 billion

Ondo Finance, a firm specializing in real-world asset (RWA) tokenization, has become the leading issuer in the sector by market capitalization, according to market data from Token Terminal. Ondo’s issued tokenized assets have reached a combined market capitalization of $4 billion, placing the company ahead of major competitors Sky and Securitize. Token Terminal’s latest figures show Ondo Finance now ranks first among tokenized RWA platforms. Sky holds second place with $3.9 billion in tokenized assets, while Securitize follows with $3.4 billion.