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xStocks hits $1B in monthly DEX volume, led by SPYx token on Solana's Raydium platform

Protocol Fundamentals
14 Sep 2026
Crypto Briefing
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Bullish
xStocks hits $1B in monthly DEX volume, led by SPYx token on Solana's Raydium platform

xStocks, a tokenized equities platform by Backed Finance, surpassed $1 billion in decentralized exchange trading volume within 30 days, driven mainly by SPYx, a tokenized SPDR S&P 500 ETF. About 75% of this trading occurred on Raydium, a Solana-based automated market maker, highlighting Solana's dominance in tokenized stock trading. The platform now supports dozens of US stocks and ETFs with assets under management exceeding $800 million. Recently, xStocks introduced yield-generating vaults for key tokens, enhancing passive income opportunities and increasing appeal for both retail and institutional investors.

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