Token Terminal adds 145 new RWA deployments from Backpack, Anchored, and xStocks

Token Terminal just dropped 145 new real-world asset deployments onto its Tokenized Assets dashboard, pulling in listings from three issuers: Backpack, Anchored Finance, and xStocks. The update spans multiple chains and marks another step in the analytics platform’s aggressive push to become the Bloomberg terminal of on-chain finance. For a dashboard that launched with roughly 300 assets back in November 2025, the trajectory has been steep. Token Terminal now tracks over 4,600 assets across more than 310 issuers and 45 blockchains, with a total tracked market cap sitting at approximately $345 billion. What each issuer brings to the table xStocks is the volume play. The platform offers more than 700 tokenized US equities and ETFs, essentially letting users trade fractional representations of traditional stocks on-chain. Backpack takes a different approach, concentrating its tokenized securities on Solana. Its model allows tokens to be redeemed 1:1 for underlying shares through regulated brokers, which addresses one of the persistent criticisms of synthetic stock tokens: that they’re just price-tracking wrappers with no real claim on the underlying asset. Anchored Finance rounds out ...