PANews July 8 news, according to Cryptoslate, on-chain data monitoring from rwa.xyz shows that the total market value of tokenized stocks on the Solana chain reached $48.53 million on July 4, an increase of 217% from $15.28 million on June 20, leading all public chains in growth rate. Currently, this sector accounts for 11.4% of the total market value of RWA on the Solana chain. Solana ranks third in the subfield of tokenized stocks, only behind Algorand ($294 million) and XRP Ledger ($55.35 million).
The rwa.xyz directory lists 61 tokenized stocks based on Solana, all minted by Backed Finance, an entity registered in Switzerland. A snapshot from July 4 shows that the $48.53 million in Solana assets belongs to this issuer, accounting for 31% of Backed Finance's total of $155 million in stock tokenization across all networks.