Salman Banaei(@banamlas):Onchain markets hold ~$215B of US Treasuries. Approx ~$200B in stablecoin reserves plus $14.7B of tokenized T-bill funds. That's ~16% of what every US G-SIB bank holds combined ($1.3T), more than Citibank's book ($128B), and more than Saudi, South Korea, and UAE.

2026.10.18 13:28

Onchain markets hold ~$215B of US Treasuries. Approx ~$200B in stablecoin reserves plus $14.7B of tokenized T-bill funds. That's ~16% of what every US G-SIB bank holds combined ($1.3T), more than Citibank's book ($128B), and more than Saudi, South Korea, and UAE.

Chainalysis@chainalysis

2026.10.17 16:03

Tokenization is widening the overseas market for US government debt. In our 2026 data, Italy, Portugal, and Singapore hold 66.9% of geolocated tokenized Treasury values. The US: 10.5%. Tokenization lowers minimum position size and removes the need for a US brokerage relationship, giving overseas investors another route to US government debt.