Solana leads tokenized-stock DeFi with $75.4 million in deposits

Solana hosted $75.4 million in tokenized-stock DeFi deposits as of August 23, representing 64.5% of the global total across blockchains, according to Token Terminal data covering 15 DeFi applications. The figure measures tokenized equities actively deposited into lending and yield protocols as collateral, rather than total tokenized-stock supply held on-chain. Ethereum ranked second with $15.0 million, followed by BNB Chain with $13.9 million, Robinhood Chain with $7.7 million and Base with $2.7 million. On Solana, Kamino Lend held 82.6% of the tokenized-stock lending market. Users can deposit assets such as SPYx, a 1:1 share-backed S&P 500 tracker issued by Backed Finance on Solana, borrow stablecoins against them and retain exposure to the underlying equity. Solana also recorded $5.8 billion in tokenized-stock decentralized-exchange volume in the second quarter of 2026, highlighting the distinction between trading activity and positions actively used as DeFi collateral.

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