Sky and Securitize each control 10.2% of the tokenized real-world asset market, valued at approximately $38.38 billion. Securitize manages roughly $4.95 billion in tokenized assets and serves as transfer agent for BlackRock’s BUIDL fund. Sky, formerly MakerDAO, achieved this market share through a stablecoin market cap of approximately $6.57 billion backed by real-world assets. The overall RWA market has grown by over 50% this cycle, rising from $25 billion to nearly $38.38 billion. These two platforms represent distinct but equally successful business models: regulated tokenization infrastructure for Securitize, and DeFi-native stablecoin protocol for Sky.
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