Polygon Q3 Snapshot: $1B RWAs, $5B Transfers & Rising Institutional Flow

Polygon’s third quarter of 2025 was nothing short of explosive, i.e., from billion-dollar tokenization to enterprise blockchain adoption. POL’s market cap soared 39.2% QoQ, stablecoins & payments hit new highs, & real-world assets on Polygon crossed the $1B mark.

With major infrastructure upgrades under the Gigagas roadmap, Polygon is positioning itself as the backbone of onchain finance.

• Market Momentum & Financial Growth
• Institutional Tokenization Takes Off
• Gigagas Roadmap & Core Upgrades
• Ecosystem Expansion: DeFi, Payments & Stablecoins

Market Momentum & Financial Growth

Q3 2025 marked one of Polygon’s strongest quarters to date. POL’s circulating market cap jumped 39.2% QoQ to $2.36 billion, outperforming the broader crypto market’s 20.7% rise. Meanwhile, transaction fees fell 23.6%, lowering user costs & fueling more onchain activity.

Network flows followed suit, i.e., P2P transfers on Polygon hit a record $5 billion in monthly volume, signaling a surge in retail & institutional adoption, amplified by institutional liquidity expansions across DeFi.

Institutional Tokenization Takes Off

Real-world asset (RWA) tokenization surged, reaching $1.14 billion in total value. Germany’s NRW.BANK issued a €100 million bond, Spain’s BeToken launched a regulated equity STO, and the Philippines Department of Budget & Management introduced blockchain-based fund tracking.

The tokenization wave was further validated as real-time, verifiable market data went live onchain with 21X & Chainlink, and Polygon matched Ethereum in U.S. Treasury bill TVL & led in euro bonds which proves its maturity in regulated financial markets.

At the same time, AMINA Bank introduced the world’s first regulated institutional staking for Polygon’s POL token, setting a precedent for bank-compliant onchain finance.

Gigagas Roadmap & Core Upgrades

Polygon’s Gigagas roadmap came alive this quarter with three landmark upgrades:

• Bhilai Hardfork boosted throughput to 1,000+ TPS, raised the gas limit, and introduced EIP-7702 for gasless onboarding.
• Heimdall v2 slashed finality time from two minutes to just five seconds, vastly improving transaction confirmation.
• Rio Upgrade, which went live on mainnet in October 2025, introduced stateless verification & validator-elected block producers, laying the foundation for 5,000 TPS performance.

Together, these milestones solidify Polygon’s role as a fintech-grade settlement layer built for speed & institutional throughput.

Ecosystem Expansion: DeFi, Payments & Stablecoins

The integration of Stripe’s recurring stablecoin payments & new institutional DeFi primitives such as Polygon’s institutional liquidity expansion reinforced Polygon’s dominance in real-world payments.

The momentum was further amplified by massive institutional activity, including BlackRock BUIDL’s $500M transfer to Polygon and record P2P transfers crossing $5B in monthly volume.

Polygon’s Q3 2025 performance confirmed its evolution from a scaling solution to a real-world financial platform. With institutional bonds, state stablecoins, recurring payments, and Rio’s live rollout, Polygon has proven that scalability isn’t just technical but also economic. Its Gigagas roadmap, institutional liquidity wave, and BlackRock BUIDL fund integration together mark Polygon’s transition from scaling Ethereum to scaling the world’s financial infrastructure.

If you find any issues in this blog or notice any missing information, please feel free to reach out at yash@etherworld.co for clarifications or updates.

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