Solana Dominates Tokenized Stock Trading with $5.8 Billion Q2 Record

Solana's decentralized exchanges (DEXs) have hit a new record in tokenized stock trading, surpassing $5.8 billion in Q2 2026. This represents a 114% increase from the previous quarter and cements Solana's dominance in the space.

The surge is largely driven by Backed Finance's xStocks, which offers tokenized US equities backed 1:1 by actual shares. As a result, Solana captured about 95% to 97% of global tokenized equity DEX volume, with Raydium leading the way as the top trading platform.

However, this trend may be short-lived, as Robinhood Chain, an Ethereum Layer 2, began surpassing Solana in daily tokenized stock volume by late July 2026. This signals growing competition in the space and highlights the need for innovation to stay ahead.