Robinhood Chain and major crypto exchanges are pivoting toward tokenized equities and real-world assets (RWA), with onchain RWA market cap growing from $4.3B to $30B between early 2025 and July 2026. Exchanges are building integrated RWA product stacks including stocks, ETFs, indices, and commodities to generate fees during periods of lower crypto volatility, fundamentally reshaping their business models beyond crypto-only venues.
DefiLlama launched a new exchange comparison tool that analyzes 50+ exchanges based on costs, slippage, liquidity, and volume, featuring advanced filters and token discovery capabilities to help users find the best trading venues for their country and tokens.