Stellar's $490M Government-Debt Lead Has a Multichain Catch

Stellar has taken a measurable lead in tokenized non-US government-debt exposure, but the real story goes deeper than a Stellar-versus-Ethereum leaderboard. This deep dive examines Spiko's EUTBL fund, RWA.xyz data, Etherfuse CETES, the Marshall Islands sovereign bond, Arbitrum, Ethereum, Morpho and Société Générale-FORGE to understand where these assets actually live and what "tokenized government debt" really means.

The evidence points toward Stellar becoming an important distribution and ownership rail for regulated real-world assets, while other parts of the same financial lifecycle can still operate on different blockchains or traditional banking infrastructure. We also examine what this does and does not mean for XLM, why Spiko's multichain strategy matters, and why the future of tokenized finance may be less about one blockchain winning everything and more about which networks capture specific financial functions.

Related videos:

👉 https://www.youtube.com/watch?v=Xk8aS83R4kQ

👉 https://www.youtube.com/watch?v=DTFL13pj7p4

👉 https://www.youtube.com/watch?v=Qr5ssqNyBPA

👉 https://www.youtube.com/watch?v=9YLXRB1PZNI

👉 https://www.youtube.com/watch?v=BLRa1T0edjI

🔎 Explore T-Bone Crypto Beyond the Video

Access the Research Desk, explore the full video library, find my companion channels, and see the tools I personally use.

👉 https://tbonecrypto.com/start

This content is for educational and entertainment purposes only and is not financial advice. Always do your own research before making any financial decisions.