Trading volumes in tokenized stocks and exchange-traded funds (ETFs) routed through 1inchโs integration with Ondo have passed $2.5 billion since the partnership went live in September 2025.
According to data published on Dune Analytics and a release shared with Cointelegraph, real-world assets (RWAs) are now the fastest-growing volume category on 1inch. While they still account for a minority of overall flow, 1inch co-founder Sergei Kunz told Cointelegraph that โthe direction of travel is clear,โ and shows no signs of slowing down, despite the broader crypto slump.
โMost of the activity is happening on BNB (BNB) Chain, where roughly $2 billion in related volume has been generated over 1.3 million transactions, with peak active users nearing 24,800 in a single period.ย
Kunz said that the combination of a low-friction user experience and massive retail distribution made BNB Chain โthe natural place for RWA activity to occur,โ adding that it was โhappening faster and more retail-sized than on Ethereum (ETH).โ
Related: MEXC expands tokenized stock offerings with new Ondo Finance listings
He added that both retail and advanced users were trading RWAs, and that the typical swap size was around $1,400, which he said showed โreal capital, deployed with intentโ rather than test traffic.
The most popular tokens are currently well-known traditional finance names such as Nvidia ($354 million in volume), Tesla ($332 million), Google ($249 million), and Netflix ($98 million), plus silver among non-equity assets ($225 million).
Tokenized RWAs defy slump as Ethereum nears $15 billion
The milestone comes as tokenized RWAs emerge as one of the few consistent growth stories in crypto. Ethereumโs RWA total value locked (TVL) has climbed to nearly $15 billion, up roughly 200% over the past year.
Tokenized US Treasuries have been a major driver of that growth, with a market cap that has risen by over $1 billion since the start of 2026, a roughly 50x increase since 2024, as products like BlackRockโs BUIDL fund help pull traditional fixed income onchain.
Related: Krakenโs xStocks tops $25B in volume with more than 80K onchain holders
At the same time, tokenized RWAs and the infrastructure behind them have continued to attract fresh capital. RWA tokenization projects were among the biggest winners in crypto venture funding in 2025, while onchain RWA markets climbed roughly 13.5% over 30 days during a period when the wider crypto market shed around $1 trillion in value.
RWAs to become everyday DeFi plumbing
1inchโs Ondo integration shows how aggregators are evolving into distribution rails for regulated RWA issuers. Kunz said 1inch remained non-custodial and did not issue the RWAs itself, with eligibility and jurisdictional controls enforced at the issuer level, while it focuses on routing, application programming interfaces (APIs) and disclosures.ย
Looking ahead, Kunz sees RWAs taking โthe next leap forwardโ only when liquidity depth, standards and regulatory clarity align, at which point he expects tokenized assets to function as everyday โfinancial plumbing on DeFiโ rails rather than a niche side bet.
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