DFDV becomes the first U.S. crypto treasury firm with tokenized shares.
Kraken’s xStocks platform launches DFDVx on Solana.
Tokenized stock opens new DeFi use cases and 24/7 access.
DeFi Development Corp (Nasdaq: DFDV) has made history by becoming the first U.S.-listed crypto treasury company to tokenize its stock. In partnership with Kraken and Backed, DFDV launched its tokenized equity, called DFDVx, on the Solana blockchain.
This move is part of the broader xStocks initiative, which aims to bring traditional equities into the crypto world. Solana, known for speed and low fees, powers the infrastructure behind this innovation.
Bringing Stocks to the Blockchain
Tokenized stocks like DFDVx unlock a new world of possibilities for both investors and developers. With shares now available on-chain, holders can enjoy benefits such as:
24/7 trading beyond regular market hours
Fractional ownership, allowing smaller investments
Integration with DeFi apps, creating new financial tools
DFDV’s CEO Joseph Onorati described DFDVx as a new building block for DeFi, paving the way for use in lending, staking, or other smart contract applications.
NEW: Solana treasury company DeFi Development Corp partners with Kraken to tokenize DFDV stock on Solana blockchain. pic.twitter.com/hOKFNb2GY5
— Cointelegraph (@Cointelegraph) June 24, 2025
A Step Toward On-Chain Finance
Kraken’s role in this project highlights growing institutional interest in on-chain financial products. Val Gui from Kraken’s xStocks team noted that tokenized U.S. equities, especially crypto-focused firms like DFDV, are in high demand.
As real-world asset tokenization gains momentum, DFDV’s launch may inspire other public companies to explore blockchain integration.
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