CRCLr, issued by Step Labs LLC, is a tokenized equity providing onchain economic exposure to the performance of a single listed U.S. common stock, marketed as backed one-to-one by the underlying share held through a regulated custodian [S1][S2].

CRCLr tracks the live market price of Circle Internet Group, Inc. common stock (CRCL), giving holders onchain economic exposure to that equity's performance rather than the share itself [S3][S1]. The issuer markets each token as backed one-to-one by the underlying stock held through Alpaca Securities LLC [S1][S4]. Holders interact with real-world stock performance directly onchain, and the issuer markets no commissions on trades [S1][S2].

The issuer is Step Labs LLC, a Cook Islands company trading as Remora Markets, with its Terms of Use governed by the laws of the Cook Islands [S2][S5]. Step Labs states it is in the process of seeking regulatory authorization and licensing [S3]. Tokens are not themselves stocks and they do not grant ownership or rights to underlying assets [S3]. The products are not offered or solicited in the USA or any sanctioned or prohibited jurisdiction, with identity verification conducted via iDenfy UAB [S3][S4]. Alpaca Securities LLC acts as paying agent upon a Realization Event [S4].

Tokens are issued as SPL tokens on Solana, fully composable across Solana DeFi [S2]. Step Labs LLC is the tokenizer, operating similarly to stablecoins as a source for minting and burning, with Alpaca Crypto LLC handling USD Coin (USDC) to U.S. dollar conversion [S2][S4]. The issuer notes the onchain price may diverge from the exchange price, with arbitrage realigning prices [S1].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://remoramarkets.xyz/legal-documentation/privacy-policy" },
    { id: "S2", url: "https://remoramarkets.xyz/" },
    { id: "S3", url: "https://remoramarkets.xyz/legal-documentation/disclaimer" },
    { id: "S4", url: "https://remoramarkets.xyz/legal-documentation/service-providers" },
    { id: "S5", url: "https://remoramarkets.xyz/legal-documentation/terms-of-use" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of transfer transactions involving the asset.

Asset transfer count

Tokenized stocks

Remora Markets operates by tokenizing traditional stocks into blockchain-based assets that can be traded on Solana, providing continuous market access beyond traditional trading hours. The platform leverages smart contracts for instant settlement and integrates with existing DeFi protocols to enable seamless portfolio diversification and global accessibility without geographic restrictions.

The platform enables global investors to trade tokenized versions of major public companies like Tesla, Nvidia, and SPY through blockchain technology. It offers 24/7 trading capabilities, fractional ownership, instant settlement, and commission-free transactions for traditional equities in a decentralized environment integrated with Solana's DeFi ecosystem.

Remora Markets is a decentralized financial platform that provides tokenized stock trading infrastructure on the Solana blockchain.

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Real-world asset (RWA) issuers

Remora Markets

Circle rStock (CRCLr) is a tokenized exposure to CRCL and distributed through Remora Markets with Alpaca Securities LLC as broker.

The underlying security is listed in the financials sector in North America.

CRCLr has been issued on Solana as a SPL Token-2022 token since August 2025.

Circle rStockCRCLr