Reality taps Merkl to keep rToken dividends flowing to DeFi users

Reality, a Bitget-ecosystem tokenization platform, has partnered with Merkl to identify holders of rTokens deposited in supported DeFi protocols so they can keep receiving stablecoin dividends. rTokens give tokenized exposure to publicly listed stocks and ETFs, including dividend benefits, but DeFi smart contracts can appear as the onchain holder when tokens are placed in lending markets, liquidity pools or staking contracts. Merkl's reward forwarder traces positions through supported contracts to find underlying holders, while Reality manages rToken issuance and dividend entitlements; net cash dividends are generally paid in USDT, subject to supported contracts and rules. rToken cumulative trading volume reached $1.16 billion from June to July, and users trading both crypto and rTokens rose 23.54% month over month in July 2026.