Kraken’s xStocks Platform to Host First U.S. Public Company’s Tokenized Equity on Solana

DeFi Development Corp. is set to make history by becoming the first U.S. public company to tokenize its Nasdaq-listed equity as part of a crypto treasury strategy. In collaboration with Kraken and Backed, the company will introduce DFDVx—a tokenized version of its stock—on the solana blockchain via Kraken’s xStocks platform. This innovative move will enable round-the-clock trading of tokenized equities alongside traditional stocks like Apple and Tesla. The initiative highlights the growing intersection of decentralized finance (DeFi) and traditional equity markets, with DeFi Development Corp. describing the tokenization of its stock as a "DeFi lego block." This development marks a significant milestone in the adoption of blockchain technology for traditional financial instruments, further bridging the gap between crypto and conventional markets.

DeFi Development to Tokenize Stock on Solana via Kraken’s xStocks

DeFi Development Corp. is making history as the first U.S. public company to tokenize its Nasdaq-listed equity under a crypto treasury strategy. Partnering with Kraken and Backed, the firm will launch DFDVx—a tokenized version of its stock—on Solana through Kraken’s xStocks platform, enabling 24/7 trading alongside traditional equities like Apple and Tesla.

"We view the tokenization of our stock as a DeFi lego block," said CEO Joseph Onorati. The MOVE unlocks novel use cases bridging equity ownership and decentralized finance, from lending to yield farming. The rebranded firm, formerly Janover Inc., has pivoted to a Solana-centric treasury strategy since its leadership overhaul by ex-Kraken executives.

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