Circle Tokenized Stocks Reach $35.5M Valuation Amid Market Expansion

Circle ($CRCL) related tokenized stock products across 20 offerings have a combined market capitalization of $35.5 million (approximately KRW 42.37 billion), according to Crypto Briefing, which reported the figure on September 18. The overall tokenized stocks market has expanded from under $20 million at the end of 2024 to $310 million by early September 2026.

Larger Circle-linked products include Ondo Finance's CRCLon, Binance-associated CRCLB, and Backed Finance's CRCLx. CRCLon's market cap ranges between $11 million and $154 million depending on the valuation date, while CRCLB stands at approximately $11.9 million. CRCLx has a smaller market cap but saw around $2.9 million (KRW 40 billion) allocated to decentralized finance protocols as of mid-August 2026.

RWA.xyz reported on September 16 that CRCLB was valued at $19.98 million, CRCLon at $11.28 million, and CRCLx at $5.395 million, totaling approximately $265.2 million for the three products combined. Crypto Briefing presented a consolidated figure for 20 products, while RWA.xyz provided individual product valuations based on distributed value assessments.

The U.S. Securities and Exchange Commission (SEC) granted a temporary conditional exemption on September 17, allowing tokenized U.S. NMS stocks to trade on permitted automated market makers (AMMs) and liquidity pools. The exemption, termed 'Innovation Exemption,' is valid until September 17, 2031. However, this does not universally permit all tokenized stock trading; certain limitations apply regarding the number of tradable securities and volume, and exchanges must ensure tokenized stocks provide equivalent rights to traditional shares.

Following the SEC announcement, Circle's share price rose approximately 5.7% to $85.03 (KRW 117,386), though Crypto Briefing noted no direct evidence linked this price movement solely to tokenized stock product growth.