Solana DEXs See Record-Breaking $5.8B Tokenized Stock Trading Volume in Q2
Tokenized stocks on decentralized exchanges (DEXs) on Solana saw a massive surge in trading volume in Q2 2026, reaching $5.8 billion. This represents a 114% increase from the previous quarter and a new all-time high for the category.
The primary driver of this growth is xStocks, a product suite from Backed Finance that launched around mid-2025. These tokenized representations of US equities and ETFs are backed 1:1 by custodied shares of the underlying asset.
Raydium, Solana's largest automated market maker, emerged as the dominant venue for these trades, with a cumulative tokenized equity volume crossing $3 billion by June 27, 2026. Daily volume peaked at $644 million on June 24, a single-day record for tokenized equity trading on any chain.
Solana captured an estimated 95% to 97% of all tokenized equity trading volume on decentralized exchanges globally in Q2 2026. BNB Chain's bStocks products generated around $5.6 billion in volume over a comparable period.