Solana Achieves $200M in Tokenized Equity Trading, Surpassing Major US Exchanges

On September 12, Solana’s tokenized equity trading volume hit an impressive $200 million, surpassing the combined trading volume of the Nasdaq and NYSE by over $100 million. This achievement highlights Solana's transformation from a platform primarily associated with memecoins and NFTs to a leader in blockchain-based stock trading.

This milestone is not a one-time occurrence; Solana has consistently captured between 85% and 95% of global on-chain tokenized equity trading activity throughout 2026, establishing itself as the go-to platform for such transactions. On that record-breaking day, Raydium, Solana’s largest decentralized exchange, accounted for approximately 70% of the total trading volume.

Following this achievement, on September 13, the total supply of tokenized equities on Solana reached an all-time high of $684 million, with 727,000 holders on the network. This figure reflects a remarkable 47% increase in just three weeks. Notably, 63% of tokenized equity trading volume on Solana occurred outside standard US market hours, indicating a strong demand for after-hours trading that traditional exchanges cannot accommodate.

Understanding Tokenized Equities

Tokenized equities are digital representations of traditional stocks, allowing for trading on decentralized platforms without the need for brokers or the delays associated with conventional stock markets. While traditional US stock settlements operate on a T+1 cycle, Solana offers near-instant settlement, significantly reducing transaction costs.

Kraken's New xStocks Vaults

In a related development, Kraken has launched xStocks Vaults, allowing eligible non-US clients to generate DeFi yield on tokenized stocks. This new product includes tokenized versions of popular assets like the S&P 500 ETF and Nvidia shares, with the NVDAx vault offering a variable yield of 8%.

The vaults utilize on-chain strategies to deploy xStocks tokens as collateral, generating yield while retaining full price exposure to the underlying assets. However, users should be aware of a three-day withdrawal period when accessing their assets.

As of the launch, the xStocks platform has reported over $800 million in assets under management, marking a significant step in making tokenized assets productive within the DeFi landscape.