DeFi Development Corp to Tokenize Shares on Kraken’s xStocks, Blending TradFi with Blockchain
DeFi Development Corp. (DFDV), a Nasdaq-listed firm known for managing a crypto treasury centered on Solana, is bringing its shares onto the blockchain through Kraken’s xStocks platform.
The company announced Monday that it will launch tokenized equity under the ticker DFDVx on the Solana network. This makes DFDV the first publicly listed U.S. crypto treasury company to offer on-chain equity, joining prominent names like Apple and Tesla already available on Kraken’s xStocks — a platform developed in partnership with tokenization specialist Backed.
Tokenization — issuing blockchain-based versions of real-world assets (RWAs) like stocks, real estate, or funds — is gaining traction for its potential to deliver 24/7 trading, faster settlement, and seamless integration into decentralized finance (DeFi). A recent report from BCG and Ripple projects the tokenized RWA market could reach $18.9 trillion by 2033, with equities expected to play a key role.
“We see the tokenization of our stock as a core building block for the DeFi ecosystem,” said Joseph Onorati, CEO of DFDV. “It’s an asset that both developers and institutions can leverage for innovative use cases.”
Val Gui, general manager of xStocks at Kraken, highlighted the growing interest: “There’s significant demand from crypto users wanting on-chain exposure to U.S. equities. Companies like DFDV, which bridge traditional finance and crypto, are especially appealing.”
Meanwhile, Coinbase is also exploring tokenized stock trading, indicating that competition in this emerging sector is heating up as traditional and digital finance continue to converge.
