Tokenized Equity of Solana Treasury Startup Defi Dev Set to Launch on Kraken

DeFi Development Corp to Launch Tokenized Shares on Kraken’s xStocks Platform

DeFi Development Corp. (DFDV), a Nasdaq-listed company with a treasury strategy focused on Solana, is set to tokenize its stock and offer it through Kraken’s xStocks platform, bringing real-world equity onto the blockchain.

Announced Monday, the tokenized version of the company’s shares — under the ticker DFDVx — will be issued on the Solana blockchain. DFDV joins major names like Apple and Tesla on Kraken’s xStocks, a digital securities platform developed in partnership with tokenization provider Backed.

The move makes DeFi Development Corp. the first publicly traded U.S. firm with a crypto-focused treasury to offer its equity on-chain, a milestone that blends public equity markets with decentralized finance.

Tokenization — the process of issuing blockchain-based representations of real-world assets like stocks, real estate, and funds — is gaining momentum for its ability to enable 24/7 markets, faster settlement times, and DeFi integration. Research from BCG and Ripple projects the tokenized RWA market could reach $18.9 trillion by 2033.

“We see tokenizing our equity as a foundational building block for DeFi,” said Joseph Onorati, CEO of DFDV. “It’s an asset that developers and institutions alike can build with.”

Val Gui, Kraken’s xStocks general manager, noted the growing demand: “The crypto community is eager to gain on-chain access to real U.S. equities, especially to companies like DFDV that operate at the intersection of traditional and digital finance.”

Rival exchange Coinbase is reportedly exploring tokenized stock trading as well, hinting at rising competition in the emerging tokenized asset sector.