Solana News Today: xBridge Launch Fuels Cross-Chain Equity Liquidity as SEC Signals Tokenization Acceptance

Backed Finance and Chainlink have introduced xBridge, a cross-chain bridge that enables tokenized stocks to move between Ethereum and Solana while maintaining accurate tracking of stock splits, dividends, and other corporate actions. The bridge utilizes Chainlink's Cross-Chain Interoperability Protocol (CCIP) to ensure consistent behavior across chains, mirroring the behavior of real-world assets. This marks a significant step in the evolution of blockchain-based financial infrastructure, which now supports the seamless transfer of tokenized equities across major blockchains according to recent reports.

xBridge is currently live in pilot mode and already integrated with major cryptocurrency trading platforms, including Kraken according to the latest announcement. The bridge plans to expand its support to additional blockchains such as Mantle and TRON in the near future. This expansion is expected to further enhance the accessibility and liquidity of tokenized assets across different blockchain ecosystems as reported by industry sources.

The SEC has granted implicit approval for the offering of certain tokenized stocks on approved blockchains for three years, signaling growing regulatory acceptance of blockchain-based financial instruments. This move, via a no-action letter to the Depository Trust Co., supports tokenization of Russell 1000 index constituents and U.S. Treasuries, paving the way for institutional adoption according to regulatory filings. The tokenization process allows for greater efficiency and faster settlement of real-world assets on blockchain platforms as confirmed by industry analysis.

Institutional interest in blockchain-based financial instruments is growing rapidly. JPMorgan and BlackRock have already initiated projects in tokenization, showcasing the potential for institutional investment in blockchain finance. Additionally, JPMorgan recently executed a debt issuance on Solana, signaling a new phase in institutional blockchain adoption. This technical capability, combined with Solana's growing ecosystem of institutional-grade applications, is reshaping the financial landscape according to market analysts.

The cryptocurrency exchange market is also witnessing significant growth. DEX platforms are expanding quickly, with a projected CAGR of 27.01% due to rising demand for privacy and decentralization. Byreal, a Solana-based DEX, recently achieved $1 billion in cumulative trading volume within 10 weeks of its mainnet launch, demonstrating the rapid adoption of DeFi platforms according to platform data. The platform supports over 40 tradable assets, including tokenized gold and equities as reported in the latest update.

Cross-Chain and DeFi Developments

Chainlink's Cross-Chain Interoperability Protocol (CCIP) is emerging as a key enabler of cross-chain transactions. Coinbase has selected CCIP as its exclusive bridging solution for all Coinbase Wrapped Assets, expanding their reach across multiple blockchains. This partnership is expected to significantly boost the liquidity and utility of these assets, leveraging Chainlink's security and reliability according to industry reports.

Meanwhile, R3 has announced the upcoming launch of the Corda protocol on Solana, bringing institutional-grade curated yield to the platform. This protocol will serve as a shared market venue connecting TradFi and DeFi markets globally, offering high-quality RWA yield to DeFi investors according to official statements. The Corda protocol aims to streamline RWA distribution on Solana and provide professional curators with infrastructure to construct RWA-anchored strategies as detailed in the announcement.

Future Outlook and Challenges

The crypto-powered remittances market is also on an upward trajectory, projected to grow from $22.18 billion in 2024 to $68.59 billion by 2029. This growth is driven by stablecoin adoption, regulatory clarity, and increased demand for faster, lower-cost international money transfers. SoFi, MoneyGram, and Paysafe are among the key players propelling this market forward according to market analysis.

However, market challenges persist, including regulatory uncertainties and cross-border trade tensions. The U.S. has increased tariffs in 2025, leading to higher market volatility and cross-border transaction costs. Despite these headwinds, the crypto-powered remittances market is expected to continue growing, supported by technological advancements and evolving consumer preferences as projected by analysts.

Mutuum Finance, another DeFi project, has reported steady growth in user base and funding, reaching over 18,500 holders. The project is developing a structured borrowing and lending protocol, aiming to create predictable and transparent yield for users. As the DeFi space continues to evolve, projects like Mutuum Finance are playing a crucial role in expanding blockchain-based financial services.