Solana Surges Ahead in Tokenized Equity Trading
Solana's dominance in decentralized trading of tokenized US equities continues to grow as Sunrise, the liquidity protocol built on Solana and initiated by Wormhole Labs, adds 20 new tokenized stocks through its partnership with Backpack Securities. The new batch includes well-known names such as Micron Technology (MU), Moderna (MRNA), and Nike (NKE).
Since June 2026, when the phased rollout began with tokenized SpaceX equity (SPCX), trading volumes have crossed $734 million by mid-July and total tokenized equity supply on the chain has surged to $465 million. Each tokenized stock is backed 1:1 and fully redeemable for conventional equity entitlements, including dividends.
The division of labor between Backpack Securities and Sunrise is clear: the former handles custody and issuance of the tokens while the latter coordinates onchain listing and liquidity formation across various DEXs and wallets in the Solana ecosystem. The risk profile remains a consideration due to regulatory clarity around tokenized securities and counterparty risks, but 20 new tickers in a single batch signals confidence that the framework is holding up.