Robinhood Leads Tokenized Equities in September as Volumes Hit $15.6B Record

Stablecoin supply rose 1.29% to $313B and CEX stablecoin-pair volumes topped $1T, the first month above it since March, as Robinhood hit a 42.0% venue share.

Updated Oct 6, 2026, 10:40 a.m. EDTPublished Oct 6, 2026, 10:00 a.m. EDT

Stablecoin market capitalization rose 1.29% to $313B in September, its second consecutive monthly gain, while stablecoin dominance slipped to 10.5% from 11.3% as the broader digital asset market grew 8.46%. Trading recovered faster than supply: stablecoin-pair volumes on centralised exchanges climbed 24.8% to $1.01T, the first month above $1T since March. Tether held 58.7% of supply at $184B, USDC rose 0.70% to $74.6B as Circle launched its Arc mainnet on September 16, and Ethena's USDe gained 20.2% to $4.90B, the largest increase among the ten largest stablecoins. Circle's USYC recorded the largest decline in the group, falling 13.4% to $2.40B.

Tokenized RWA market capitalization was broadly stable, but the mix shifted. Tokenized bond and money market funds fell 8.1% to $17.3B, cutting their share to 50.5% from 54.3%, while private credit rose 7.15% to $5.62B and tokenized commodities gained 2.13% to $6.43B, with Tether Gold leading at $3.46B. Tokenized stocks and equities grew 13.7% to a record $4.87B, lifting their share to 14.2% from 12.4%. Securitize led tokenized equity AUM at $1.62B, followed by Ondo at $1.00B and xStocks at $874M.