Tokenized Stocks Post $20.9 Billion in 30-Day DEX Volume
Uniswap v4 and v3 accounted for 60.1% of activity, while Backpack plans to expand access on Solana from about 200 symbols to 10,000.
Tokenized stocks recorded $20.9 billion in decentralized-exchange volume over a trailing 30-day period, with Uniswap’s latest pool versions accounting for most of the activity and showing substantial use of automated-market-maker infrastructure.
Uniswap v4 represented 40.7% of the volume, while Uniswap v3 accounted for 19.4%. Their combined 60.1% share amounted to about $12.6 billion.
Decentralized exchanges use liquidity pools instead of traditional order books. Tokenized stocks are blockchain-based instruments that track or represent exposure to shares, and they are increasingly being used in DeFi applications beyond trading.
Users can deposit some tokenized stocks as collateral for stablecoin loans. When onchain liquidity is fragmented, liquidations may depend on offchain exchanges.
Uniswap introduced Permissioned Pools on July 23, 2026. The system allows approved wallets to trade regulated assets through Uniswap v4 pools, with issuers managing wallet allowlists through the pool infrastructure.
Backpack CEO Armani Ferrante said the company plans to broaden tokenized-stock access on Solana from about 200 symbols to 10,000 through an API that connects brokerage accounts with DeFi.
“Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana,” Ferrante said.
Backpack’s tokenized stocks trade through request-for-quote markets during securities-market sessions. Some listed stocks also trade through spot order books outside those sessions.
Ferrante did not provide a launch date for the 10,000-symbol target.
