xStocks surpassed $6 billion in trading volume on Solana on September 18, according to issuer Backed Finance, which said the platform represented 54% of Solana’s historical tokenized-stock trading volume. The milestone came as Solana’s decentralized exchanges processed more than 208 million trades in one week, exceeding the New York Stock Exchange’s raw transaction count and reaching roughly 88% of Nasdaq’s weekly trade volume. The comparison measures transaction numbers rather than dollar value and includes sub-dollar swaps, memecoin trades and automated activity, while traditional exchange trades can involve institutional block orders worth millions of dollars. Token Terminal data showed that Raydium processed approximately $2.3 billion in tokenized-stock decentralized-exchange volume during Q3 2026 through September 18, roughly 40% above the previous quarter, with about two weeks remaining before September 30. xStocks offers 811 stocks and ETFs for round-the-clock trading across more than 110 countries, primarily through Raydium on Solana. Solana’s tokenized-equity volume exceeded $200 million on September 12, more than $100 million above the combined tokenized-equity volume on the NYSE and Nasdaq, while tokenized-equity supply reached $684 million on September 13, up 47% in three weeks. The ecosystem also recorded 727,000 tokenized-equity holders and more than 128,000 active traders in a 24-hour period. Near-zero fees, sub-second finality and continuous access support frequent trading, but bot activity and wash trading remain important caveats. Kraken also launched yield vaults for SPYx, QQQx and NVDAx through Kamino Finance four days before the milestone, offering up to 2% APY and extending xStocks into structured DeFi products.