DeFi Dev Corp is the first crypto treasury firm to tokenize public stock on Kraken's Solana-based xStocks platform.
Tokenized stocks make up just 1.5% of the total real world asset market despite rising institutional interest.
Solana adoption grows as firms like Robinhood and Securitize expand tokenization and treasury investments on the network.
DeFi Development Corp., a Solana-based treasury firm, has announced plans to tokenize its stock through Kraken’s xStocks platform. The company will launch its tokenized equity under the symbol DFDVx, using the Solana blockchain. This move adds DeFi Dev Corp to a select group offering tokenized shares of U.S. public companies.
https://twitter.com/fusiorcopilot/status/1937231757721346340
Kraken introduced the xStocks platform in May to offer tokenized U.S. equities to investors outside the United States. Apple, Tesla, and Nvidia are already listed. DeFi Dev Corp became the first crypto treasury firm with a tokenized public equity available on xStocks.
DeFi Dev Corp Builds on Solana Integration
DeFi Dev Corp, formerly known as Janover, rebranded in April after a takeover by former Kraken executives. Since then, the company has increased its Solana holdings. It recently secured $5 billion through an equity line to continue its Solana-focused strategy.
The company earlier purchased $11.5 million worth of SOL and seeks up to $1 billion in new capital. Its share price rose over 3% early in the latest Nasdaq session before retreating. At the time of reporting, the stock traded at $25.03, up 0.6%.
Tokenized Stocks Remain a Niche Sector
The tokenized stock market remains small despite growing attention. According to RWA.xyz, tokenized stocks represent just 1.5% of the total real-world asset market. The broader RWA market is valued at $24.3 billion, while tokenized equities stand at $365 million.
The tokenization trend continues gaining traction among institutions. Robinhood is reportedly building a blockchain to offer U.S. securities to European users. Binance also considered similar plans in 2021 but paused due to regulatory barriers.
Solana Attracts Institutional Interest
Solana’s role in asset tokenization continues to grow. It has drawn institutional players like Securitize, Ondo Finance, and Robinhood. Solana also supports Wyoming’s state-backed stablecoin initiative. Treasury companies like DeFi Dev Corp and Sol Strategies are helping set industry standards.
Upexi, a Nasdaq-listed firm, recently allocated over 90% of a $100 million raise to Solana investments. Meanwhile, Sol Strategies continues accumulating SOL despite recent losses.
Interest in Solana ETFs has also surged. Approval odds have climbed to 95%, according to recent data. As institutional adoption rises, activity in Solana’s meme coin space has slowed, possibly affecting SOL’s price momentum.
DeFi Dev Corp’s tokenization of DFDV stock adds to the growing list of Solana-based real-world assets, marking a shift toward blockchain-integrated equities.
