Defi Dev’s Tokenized Stock, Linked to Solana Treasury Operations, Coming to Kraken

DeFi Development Corp. to Offer Tokenized Shares via Kraken’s xStocks Platform

DeFi Development Corp. (DFDV), a Nasdaq-listed company focused on managing a crypto treasury anchored in Solana, is set to tokenize its shares, bringing them to the blockchain through Kraken’s xStocks platform.

The company revealed on Monday that it will issue tokenized shares under the ticker DFDVx on the Solana network. This move positions DFDV as the first publicly traded U.S. crypto treasury firm to bring its equity on-chain, joining blue-chip names like Apple and Tesla on Kraken’s xStocks—a platform developed with tokenization firm Backed.

Tokenization, which converts real-world assets like equities, real estate, or funds into blockchain-based tokens, is gaining momentum for its benefits, including 24/7 trading, faster settlement, and deeper integration with decentralized finance (DeFi). A report from BCG and Ripple projects the tokenized real-world asset (RWA) market could expand to $18.9 trillion by 2033, with equities expected to be a significant part of that growth.

“Our tokenized equity is a DeFi building block that institutions and developers can leverage for new opportunities,” said Joseph Onorati, CEO of DFDV.

Val Gui, general manager of xStocks at Kraken, noted growing enthusiasm for tokenized assets: “There’s tremendous demand for on-chain access to U.S. equities, and companies like DFDV, which operate at the intersection of traditional and crypto finance, are especially exciting for the community.”

Meanwhile, rival exchange Coinbase is exploring tokenized stock trading as well, suggesting competition in the tokenized asset space is heating up as traditional finance and blockchain technology continue to converge.