xStocks, a Solana-based tokenized equities platform built by Backed Finance, now accounts for 58% of all tokenized stock deposits into DeFi. The platform also controls 86.5% of the tokenized-stock lending total value locked, which stands at $23.1 million. Launched in late June 2025, xStocks has expanded its catalog to over 700 assets and surpassed $35 billion in cumulative transaction volume by mid-2026. Seven of the top 10 tokenized stocks by trading volume belong to xStocks as of February 2026. Its deep integrations with Kamino for lending and Raydium for liquidity provision largely explain its dominant position.
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