Ethereum May Maintain DeFi Dominance as Tokenized Stocks Approach Inflection Point, Binance Research Suggests

• Kraken and Backed Finance expanded xStocks to the Tron blockchain.

• Tron will host TRC-20 tokenized stocks after earlier launches on Solana and BNB Chain.

• xStocks reported over $2.5 billion combined DEX and CEX volume since launch; Tron TVL stands at $6.2B (DefiLlama data).

Tokenized stocks accelerate as RWA tokenization grows in 2025 — read latest Tron expansion, TVL data and expert insight. Learn what this means for investors.

What are tokenized stocks and why is RWA tokenization accelerating?

Tokenized stocks are blockchain tokens that represent shares or economic exposure to equities, enabling fractional ownership, continuous trading and quicker settlement. Institutional interest and platform expansions — including Kraken and Backed Finance’s xStocks deployment to Tron — are driving a notable increase in real-world asset (RWA) tokenization in 2025.

How did Kraken and Backed Finance expand xStocks to Tron?

Kraken and Backed Finance announced an expansion of the xStocks product to the Tron blockchain, issuing the assets as TRC-20 tokens. xStocks initially launched on Solana and BNB Chain in late June 2025, and has seen more than $2.5 billion in combined DEX and CEX trading volume since debut.

According to a Binance Research report, tokenized stocks are nearing a major inflection point reminiscent of the early days of decentralized finance.

On Wednesday, cryptocurrency exchange Kraken and tokenization platform Backed Finance announced an expansion of xStocks, a tokenized stock product offering, to the Tron blockchain. The move comes as real-world asset (RWA) tokenization, particularly within stocks, is taking hold.

According to the announcement, Backed will deploy the stocks as TRC-20 tokens. Previously, Kraken and Backed launched xStocks on Solana and BNB Chain. Debuted in late June 2025, xStocks has had more than $2.5 billion in combined DEX and CEX volume, according to a Kraken blog post.

“The enthusiasm developing in the RWA sector is more indicative of a growing institutional confidence in the utility of layer 1 blockchain networks like Tron,” a TronDAO representative said in a public statement. “As institutional blockchain continues to evolve, we plan to stay focused on building the infrastructure needed to support long-term adoption and real-world financial use cases.”

Tron TVL over time. Source: DefiLlama

How does Tron’s DeFi health compare to other chains?

Tron’s total value locked (TVL) was $6.2 billion on Tuesday, ranking it fifth among blockchains by TVL. That figure represents a 15% decline from $7.3 billion on Jan. 1, 2025. By contrast, Ethereum retains dominant DeFi activity with about $89 billion TVL, roughly 60% of the total across chains.

Platform initiatives elsewhere include eToro’s plan to tokenize popular U.S. stocks on Ethereum and Robinhood’s launch of a layer-2 for trading U.S. assets in Europe, signaling broad institutional experimentation with tokenized equities and trading rails.

RWA tokenization gains steam in 2025 — what does the data show?

RWA tokenization grew to $26.4 billion as of last Tuesday, up from $15.6 billion on Jan. 1, 2025, according to RWA.xyz. A Binance Research report also indicates tokenized stocks are approaching a major inflection point with growth patterns similar to early DeFi adoption.

Nansen CEO Alex Svanevik has argued that the largest opportunities for tokenized stocks may lie in private markets, where inefficiencies are deeper and tokenization can unlock liquidity.

Frequently Asked Questions

Are tokenized stocks legally equivalent to owning shares?

Legal equivalence depends on the issuing framework and jurisdiction. Some tokenized products represent direct custodial ownership, while others offer synthetic or economic exposure. Investors should verify regulatory compliance and custody arrangements before participating.

How can investors assess RWA tokenization platforms?

Evaluate custody, licensing, secondary market liquidity, audited smart contracts, and third-party attestations. Check TVL trends and trading volume metrics to measure platform traction and counterparty risk.

Key Takeaways

• Market momentum: Tokenized stocks and RWA tokenization expanded quickly in 2025, driven by institutional pilots and platform launches.
• Tron expansion: Kraken and Backed Finance launched xStocks on Tron as TRC-20 tokens after Solana and BNB Chain rollouts.
• Data-driven steps: Monitor TVL, trading volume, custody models and regulatory frameworks when evaluating tokenized stock offerings.

Conclusion

Tokenized stocks are moving from niche experiments to scalable financial infrastructure, with xStocks’ expansion to Tron illustrating broader RWA adoption. Investors should prioritize custody, liquidity and regulatory clarity. For ongoing coverage and platform updates, follow COINOTAG’s reporting and data summaries.

Published: 2025-08-20 · Updated: 2025-08-20 · Author: COINOTAG