Solana Tokenized Stocks Surge Past $5.8B on xStocks
Decentralized exchanges (DEXs) on Solana saw an explosive growth in trading volume for tokenized stocks, reaching a new all-time high of $5.8 billion in Q2 2026.
This represents a staggering 114% jump from the previous quarter and marks a significant milestone in the adoption of tokenized equities on the blockchain.
The primary driver behind this surge is xStocks, a product suite launched by Backed Finance in mid-2025. These tokenized representations of US equities and ETFs are backed 1:1 by custodied shares of the underlying asset, making them a more accessible and efficient alternative to traditional markets.
Roadmap shows that Raydium, Solana's largest automated market maker, dominated these trades with a cumulative tokenized equity volume exceeding $3 billion by June 27, 2026. Daily volume peaked at $644 million on June 24, setting 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 during Q2 2026, with BNB Chain's bStocks products generating around $5.6 billion in volume over a comparable period. However, by late July 2026, Robinhood Chain began overtaking Solana in daily tokenized stock trading volume.