Tokenized Circle stock in DeFi climbs to $7.7 million

Tokenized Circle shares, issued as CRCLx by xStocks, have seen significant growth in decentralized finance, with deposits more than doubling to $7.7 million between mid-August and October 20, 2026. These tokens, which provide economic exposure to Circle’s equity without voting rights, are primarily utilized in liquidity pools and lending protocols on Solana and Ethereum. Raydium on Solana leads as the largest venue with $3 million in deposits, followed by Uniswap on Ethereum with $2.9 million and Kamino Lend with $908,000. While the $7.7 million in DeFi represents less than 3% of the total $314-$345 million in tokenized Circle exposure, the rapid adoption highlights a growing trend of using tokenized equities as collateral and yield-bearing assets. This shift allows non-US investors to gain flexible access to US-listed stock performance through blockchain-native infrastructure. The trend underscores the increasing competition among DeFi protocols to capture liquidity for real-world assets. However, participants must navigate inherent risks, including reliance on custodial integrity and smart contract vulnerabilities.