PANews reported on July 8 that according to Cryptoslate, rwa.xyz on-chain data monitoring shows that the total market value of tokenized stocks on the Solana chain reached $48.53 million on July 4, an increase of 217% from $15.28 million on June 20, leading the growth rate of all public chains. Currently, this sector accounts for 11.4% of the total market value of RWA on the Solana chain. Solana ranks third in the tokenized stock segment, second only to Algorand ($294 million) and XRP Ledger ($55.35 million).

The rwa.xyz directory lists 61 Solana-based tokenized stocks, all minted by Swiss-registered entity Backed Finance. A July 4 snapshot shows $48.53 million in Solana assets attributed to the issuer, representing 31% of Backed Finance’s total $155 million in stock tokenization across all networks.