Over $300M in tokenized stocks deposited into DeFi, up 2,451%
DeFi users have deposited over $300 million worth of tokenized stocks into on-chain protocols, representing a 2,451.5% increase over the past year.
The total value locked (TVL) in DeFi protocols for tokenized stocks reached between $248 million and $313 million across September and October 2026. This marks a dramatic increase from just $15 million to $22 million at the beginning of the year, representing roughly 18-20 times growth in under a year.
Three blockchains have driven this growth: Solana held approximately $87 million to $96 million, Robinhood Chain accounted for roughly $80 million to $98 million, and BNB Chain came in third at around $36 million.
Market Leaders
On the issuer side, xStocks, affiliated with Kraken parent Payward, has captured approximately 58% of tokenized stock DeFi deposits, or $111 million spread across 15 protocols. The platform also dominates lending TVL, with Ondo being another significant contributor to the momentum.
About 65% of the funds sit in liquidity pools, while 28% goes to lending and borrowing activity.
Growth Catalysts
The growth curve accelerated sharply after a cluster of launches in mid-2026. Binance rolled out bStocks in June, followed by Robinhood launching its own chain and stock tokens in July. This timing coincided with the broader tokenized equity market expanding to between $3 billion and $3.8 billion in total on-chain value.
DeFi usage now represents 6-8% of the total tokenized equity market cap, up from just 2% earlier in the year. However, the sector shows significant concentration, with xStocks controlling nearly 60% of deposits and most TVL concentrated on three networks.
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