Solana’s tokenized stock market more than triples in two weeks to hit $48M

Solana's tokenized stocks rise significantly, with 61 assets issued via Switzerland's Backed Finance fueling market expansion.

Solana’s tokenized stock market hit $48.53 million on July 4, up more than threefold from $15.28 million on June 20, according to on-chain data tracked by rwa.xyz.

Solana’s tokenized stocks capitalization expanded more than threefold in two weeks, outpacing every other tracked network during the period. 

Furthermore, the tokenized stock market on Solana represented 11.4% of the total market capitalization. Algorand remains the leader in the segment, with $294.71 million, while XRP Ledger follows in second place with $55.35 million. 

Tokenized shares trade as on-chain representations of traditional equities and settle under the SPL standard on Solana. 

Prices are tracked through off-chain market-making and periodic collateral audits, which reflect the underlying securities.