The total market value of Solana's tokenized stocks on the chain has more than doubled in two weeks, reaching $48 million

According to Cryptoslate, rwa.xyz's on chain data monitoring shows that the total market value of Solana's tokenized stocks on the chain reached $48.53 million on July 4th, an increase of 217% from $15.28 million on June 20th, leading the growth rate among all public chains. At present, this sector accounts for 11.4% of the total market value of RWAs on the Solana chain. Solana ranks third in the tokenized stock segment, behind Algorand ($294 million) and XRP Ledger ($55.35 million). The rwa.xyz directory lists 61 Solana based tokenized stocks, all minted by Backed Finance, an entity registered in Switzerland. The snapshot on July 4th shows that $48.53 million of Solana assets belong to the issuer, equivalent to 31% of Backed Finance's total $155 million in stock tokenization across all networks.