Canton’s represented asset value in RWA.xyz’s November 1 network table. Source. Graphic by CantonNews.
RWA.xyz put Canton’s represented real-world assets at $351.47 billion on November 1. Almost the entire figure sits on one platform, Broadridge’s Distributed Ledger Repo (DLR). The tracker lists DLR at roughly $351.5 billion after rounding in its Canton breakdown.
In a November 2 check of the Broadridge page on the same tracker, the same rounded $351.47 billion appeared under a different label, daily repo turnover. That distinction matters. In a repo, an institution sells securities for cash and agrees to buy them back later. Turnover measures business transacted over a period. Measuring what investors hold at the end of the day would require a balance.
What does “represented” mean?
RWA.xyz groups assets according to what a holder can do with the token. An asset is distributed when a holder can take the token outside the platform that issued it and transfer it between wallets. A represented asset stays within the issuing platform or has restrictions that prevent those transfers. A ledger can still serve a purpose inside that boundary. Two institutions settling a repo need to agree which securities secure the cash they exchanged. Readers can see how the data provider draws that boundary in its classification guide.
On November 1, the tracker counted two real-world assets on Canton and put the entire $351.47 billion in the represented category. The figure is best understood as RWA.xyz’s classification of the institutional activity it tracks. Broadridge’s existing repo business on Canton gives that classification much of its scale.
Why the next four networks change
On November 1, Canton said its asset value was more than seven times the combined value of the next four networks. Sorting the public table two ways shows where that comparison holds.
Calculations use the unrounded values in the November 1 RWA.xyz network table. Each comparison ranks the networks using the same measure on both sides. Graphic by CantonNews.
- Represented assets. Provenance, Avalanche, XRP Ledger and ZKsync Era together accounted for $43.87 billion. Canton’s figure was 8.01 times their combined value.
- Total real-world asset value, excluding stablecoins. Provenance, Ethereum, Avalanche and BNB Chain together accounted for $60.26 billion. Canton’s figure was 5.83 times that total.
Canton leads both comparisons. Its dollar figure stays the same because the tracker puts all of it in one category. Adding distributed assets brings Ethereum and BNB Chain into the comparison and increases the amount on the other side. For a reader interested in assets that can move between wallets, the distributed column is the place to look. For a reader following Broadridge’s trading activity, its platform page reports daily turnover directly.
Source data and definitions are available in RWA.xyz’s network comparison.
