
Tokenized stocks on Solana hit $12.4 billion in DEX volume this year
Tokenized stocks on the Solana blockchain have experienced significant growth, reaching $12.4 billion in decentralized exchange trading volume year-to-date in 2026. Solana currently dominates the sector, capturing approximately 95% of global on-chain equity DEX trading volume. Raydium has emerged as the primary venue for this activity, processing over 90% of Solana's tokenized stock flows and surpassing $6.1 billion in total volume. Much of this expansion is driven by Backed Finance’s xStocks product, which provides 1:1 equity-backed tokens and reached $6 billion in cumulative volume by mid-September 2026. This shift toward 24/7 on-chain trading allows investors to react to market news outside of traditional exchange hours. The growth is further supported by a evolving regulatory environment, including recent SEC innovation exemptions aimed at facilitating compliant on-chain trading. While the ecosystem demonstrates high efficiency, its reliance on a small number of platforms and the inherent counterparty risks of custodial models remain critical considerations for market participants.








