XRP News Today: Solana’s Tokenized Stock Market Surges 218% in June

Solana’s tokenized stock market has experienced a significant surge, reaching $48.53 million on July 4, marking a more than threefold increase from $15.28 million on June 20. This rapid growth outpaced every other tracked network during the same period, highlighting Solana’s rising prominence in the tokenized stock market segment.

As of July 4, the tokenized stock market on Solana represented 11.4% of the total market capitalization in this segment. Algorand remains the leader with $294.71 million, while XRP Ledger follows in second place with $55.35 million. Tokenized shares on Solana trade as on-chain representations of traditional equities and settle under the SPL standard. Prices are tracked through off-chain market-making and periodic collateral audits, which reflect the underlying securities.

The rwa.xyz catalog lists 61 Solana-based tokenized stocks, all minted by Backed Finance, a Switzerland-registered entity. The July 4 snapshot attributes $48.53 million of Solana assets to the issuer, equal to 31% of Backed’s $155 million aggregate stock tokenizations across all networks. The tokenized versions of real stocks are a product named xStocks by Backed, available for trading on major exchanges such as Kraken and Bybit.

Backed introduced its first Solana-native equity tokens in April and accelerated issuance through a permissioned mint-and-burn gateway that links to regulated custodians holding the underlying shares. Each token is structured as a debt security backed 1-for-1 by the corresponding stock, with settlement handled through authorized participants. Holders may swap tokens for the underlying equity by completing a Know Your Customer (KYC) process and routing the request to the issuer’s transfer agent.

Market participants have cited this mechanism as a useful bridge between centralized broker-dealer liquidity and decentralized finance tools such as automated market makers and lending protocols. Backed Finance has publicly stated that it plans to add additional equities and exchange-traded funds to its Solana program in the second half of the year, contingent upon market maker demand. A continued cadence similar to June’s could push Solana past XRP Ledger for the second-place slot by total stock value.