According to CoinMeta, the Binance Research Institute released a report stating that as of September 15, 2026, the total asset management scale on the RWA chain reached $34.18 billion, an increase of 85.2% for the year. Among this, the scale of bonds and money market funds was $18.29 billion, while stocks increased by 390.4% for the year. The overall programmable assets ratio was about 0.01%, and the overall capital activation rate was about 12%, meaning that approximately $12 out of every $100 in assets on the chain was deployed in liquidity pools, lending, and mortgage applications. The activation rate of private credit capital reached 49.67%, and the stock capital activation rate increased from 1.95% to 7.54%. The report suggests that the opportunities in the next phase lie in liquidity, lending, and mortgage applications after asset issuance.