Kamino Lend now controls 82.6% of tokenized stock lending volume on Solana, representing over $31 million out of a total of $53 million in collateral within this segment. The protocol integrated xStocks on July 14, 2025, enabling users to deposit tokenized versions of stocks like SPYx and AAPLx as collateral to borrow stablecoins without selling their equity positions. xStocks dominate the market with approximately 86.5% of issuance on Solana, while Kamino Finance’s overall TVL ranges between $1.1 billion and $2.3 billion. Tokenized stock lending therefore represents only between 1.3% and 2.8% of the protocol’s total deposits, a still marginal share despite rapid growth.
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