DeFi Development Corp. (Nasdaq: DFDV), a publicly traded company known for holding a large portion of its treasury in Solana (SOL), is set to have its shares tokenized on the Solana blockchain. This move will be part of the upcoming launch of Kraken’s xStocks platform, which aims to bring traditional equities onto the blockchain in tokenized form. Under the ticker DFDVx, these digital shares will enable holders to use them within decentralized finance (DeFi) applications—such as trading, lending, or using them as collateral in smart contracts.
DFDV joins a group of major companies whose stocks will be tokenized on xStocks at launch, including Apple, Tesla, Nvidia, and ETFs. The inclusion of a crypto-native public company like DFDV is seen as a strategic bridge between traditional finance and blockchain-native ecosystems. Kraken’s Val Gui, who oversees the xStocks initiative, noted that there’s growing demand among crypto users for tokenized access to U.S. equities, particularly those with digital asset exposure like DFDV.
Joseph Onorati, CEO of DeFi Development, described the tokenized shares as a “DeFi lego block”—an essential building unit for more complex financial products on-chain. Tokenizing its shares allows DFDV to actively participate in and help shape the growing world of programmable finance.
The broader context is that asset tokenization is gaining momentum, with financial firms exploring how to bring everything from real estate to stocks onto blockchains. A recent report by BCG and Ripple projects that the tokenized real-world asset market could grow to nearly $19 trillion by 2033. Tokenized stocks are a key part of that vision, and platforms like xStocks represent a concrete step toward realizing it.
With this move, DeFi Development Corp. positions itself at the forefront of merging corporate equity and decentralized finance, enabling new forms of liquidity, accessibility, and utility for its investors and the broader crypto community.
Will tokenized stocks like DFDVx on Solana truly disrupt traditional equity markets, or will they remain niche tools for crypto-native users?