xStocks Dominates DeFi with 58% Market Share

xStocks has taken over the DeFi space by accounting for an impressive 58% of all tokenized stock deposits into decentralized finance protocols, according to recent data. The platform, built on Solana by Backed Finance, has also cornered 86.5% of the tokenized-stock lending total value locked, with a staggering $23.1 million in the market.

The secret behind xStocks' success lies in its innovative approach to tokenizing stocks. Each xStocks token is backed 1:1 by underlying US equities or ETFs held with regulated custodians, making it a safe and reliable investment option for users. Since launching in late June 2025, the platform has expanded its catalog to more than 700 assets, with a cumulative transaction volume of over $35 billion as of mid-2026.

xStocks' dominance is evident not only in its market share but also in its on-chain holdings, which reached approximately $225 million in early 2026. The platform's deep integrations with Solana-native protocols, such as Kamino for lending and Raydium for liquidity provision, have further cemented its position in the DeFi space.