The tokenization trend is gaining momentum. A Dune dashboard shows that the niche now boasts a market capitalization of more than $220 million across the six projects measured. Tokenization refers to issuing financial securities, like stocks and bonds, on the blockchain. Firms like Matrixport, Backed Finance, Ondo, and Franklin Templeton have all created ERC-20 tokens, representing government bonds or exchange-traded funds (ETFs)stock. Ondo and MatrixDock dominate the market with 61.4% and 32.1% shares, with mostly short-term U.S. government bonds, which currently yield 4% to 5% due to the hike in benchmark interest rates by the Federal Reserve.
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