Solana tokenized equity holders approach 900K, nearing a record high. The network now dominates up to 95% of all on-chain tokenized equity activity as wallet addresses nearly double in weeks 2 hours ago Solana logo, official brand asset from solana.com/branding. Alpenglow is a Solana consensus upgrade. Sponsored: CryptoSlots - Cryptoslots Play now! Solana's tokenized equity ecosystem just crossed a milestone that would have sounded absurd a year ago. More than 900,000 wallet addresses now hold tokenized versions of traditional stocks on the network, marking an all-time high that cements Solana's grip on one of crypto's fastest-growing sectors. To put the speed of this ramp in perspective: on September 1, roughly 424,894 wallets held tokenized equities on Solana. By September 12, that figure had ballooned to 801,439. That's an 88% jump in about a week and a half. The count then pushed past 850,000 by September 20 before breaching the 900,000 threshold. What's actually being traded On Solana, the biggest holder magnet is NVDAx, a tokenized version of NVIDIA shares issued through xStocks. Other popular tickers include SPYx (tracking the S&P 500 ETF), TSLAx, and AAPLx. The appeal is straightforward: global access to US equities without needing a traditional brokerage account, plus the composability benefits of having these assets live natively on a blockchain. The total supply of tokenized equities on the network hit $684 million by mid-September, a 47% increase in just three weeks. Meanwhile, real-world asset volume flows tied to Solana totaled $3.3 billion over the trailing 30-day period. The news moving money, markets, and the world - before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. New listings have been a consistent catalyst. Tokenized Nike shares recently went live, and Galaxy Digital launched an issuer-direct option, giving users another on-ramp into the space. The infrastructure behind the surge xStocks serves as one of the primary issuers, creating the tokenized versions of traditional equities that trade on-chain. Backpack Securities, backed by Kraken, provides regulated brokerage infrastructure. And Jupiter, Solana's dominant DEX aggregator, acts as the distribution layer where most of these tokens actually change hands. Solana currently captures between 85% and 95% of all on-chain tokenized equity activity across every blockchain network. Disclosure: This article was edited by Editorial Team. For more information on how Crypto Briefing create and review content, see its Editorial Policy.

Galaxy launches 2 stablecoin vaults on Kamino. September 18, 2026 Crypto news general Positive Galaxy Digital has launched two institutional-grade stablecoin lending vaults on Kamino Finance, introducing USDC and USDT yield strategies to the Solana ecosystem backed by Galaxy's institutional risk management framework. The move marks a significant expansion of institutional DeFi participation on Solana, bringing curated, risk-assessed lending infrastructure to one of the fastest-growing layer-1 networks in crypto. Galaxy's entry into Kamino's lending protocol signals growing confidence among major crypto financial firms in Solana's DeFi stack, which has seen total value locked surge in 2024. Yield-seeking investors and DeFi participants searching for USDC lending rates, USDT stablecoin vaults, and Solana DeFi yield opportunities now gain access to strategies shaped by Galaxy's established institutional standards - a meaningful differentiator in a market crowded with unvetted lending pools. Kamino Finance has rapidly emerged as one of Solana's leading liquidity and lending platforms, and Galaxy's participation is expected to attract additional institutional capital to the protocol. The launch also aligns with broader stablecoin adoption trends, as USDC and USDT continue to dominate on-chain liquidity across DeFi ecosystems. For SOL holders and stablecoin investors, this development could meaningfully impact Kamino's TVL and lending rates in the near term. Watch for Galaxy to potentially expand its Solana DeFi footprint with additional vault strategies or liquidity products as institutional appetite for on-chain yield continues to grow. Galaxy launched USDC and USDT lending vaults on Kamino, bringing its institutional risk framework and curated yield strategies to Solana.

Galaxy brings its curation model onto Solana. Galaxy Curation started in July with stablecoin strategies built on Morpho and distributed to institutions through Fireblocks Earn. The Kamino launch puts the same curation model on a second blockchain and introduces direct exposure to Solana lending markets. Galaxy's July launch described curation as a system for applying institutional credit controls to onchain lending while keeping deposited assets at the protocol level. Curators decide which lending markets qualify, how much capital can enter each one and when those allocations need to change. For Kamino, Galaxy has launched one USDT configuration and one USDC configuration. Both are described by Galaxy as moderate-risk strategies, though they have different mandates. The USDT vault takes the more selective approach. Galaxy says it is designed to prioritize capital preservation through exposure to liquid and established Kamino lending venues. The USDC vault permits a larger set of collateral markets in pursuit of higher lending yield. Galaxy describes the design as involving expanded collateral exposure and wider market participation, which means its risk profile is not identical to the USDT product. Galaxy explicitly warns that both products remain exposed to market, smart-contract and liquidity risks. The company does not describe either vault as principal-protected. Eduardo Bermudez, Galaxy's director of trading, said the company built the curation business around the view that institutions should not have to change their operating model to use onchain yield products. "Extending that to Kamino brings the same principle to Solana," Bermudez said. Vault rules control where depositor funds can move. Kamino's vault system lets a curator set eligible reserves, allocation weights and hard exposure caps. Its documentation says users deposit one asset into a vault and receive vault shares whose value changes as interest accrues from underlying lending markets. The curator does not manually execute every individual movement of capital. Kamino's infrastructure handles allocation and rebalancing based on the strategy instructions set by the curator, while the resulting activity remains visible onchain. Galaxy will therefore control the lending mandate, while Kamino provides the smart contracts and execution infrastructure. Kamino documents controls covering allocation weights, reserve restrictions, management fees, performance fees, minimum deposits and exposure settings. The Galaxy announcement did not publish a fixed vault APY, management fee, performance fee or maximum deposit amount. Liquidity conditions can affect withdrawals. Kamino's documentation says vault redemptions first use idle liquidity and funds available from lending reserves. A withdrawal can enter a queue when enough immediately redeemable capital is unavailable. Michael Weisz, Kamino's CEO, said Galaxy's lending experience is being applied directly through the protocol's infrastructure. He described the arrangement as bringing institutional capital and risk controls into the same onchain system, a company characterization that does not remove the lending and smart-contract risks disclosed for users. The USDC vault has another distribution route through Yield.xyz. Galaxy said the integration lets users access that strategy beyond Kamino's own interface, while the USDT vault announcement did not identify a comparable external distribution channel. Galaxy builds on a $1.4 billion lending operation. Galaxy's latest reported financial figures provide the basis for the institutional lending experience referenced in the vault announcement. Its Q2 results showed an average loan book of $1.438 billion for the three months ended June 30, up 1% from the previous quarter. The company served 1,741 trading counterparties, compared with 1,691 in Q1. Galaxy ended the quarter with $7.1 billion in combined assets under management and assets under stake. Its Global Markets business generated $49 million of adjusted gross profit during the quarter. The curation expansion follows Galaxy's July launch of the Galaxy Onchain Financing Rate, or GOFR. That product lets institutional borrowers face Galaxy directly while Galaxy routes financing across several onchain lending protocols. Galaxy's GOFR materials list Kamino alongside Aave, Morpho and Spark among the lending venues monitored for the program. Galaxy committed $100 million of its own equity as first-loss capital for GOFR, a structure separate from the new Kamino vaults. As of Sept. 13, Galaxy displayed indicative GOFR rates of 4.40% for USDC and 4.00% for USDT. Those rates belong to the GOFR financing program and should not be treated as yields for the newly launched Kamino vaults. The company has been adding other Solana-based institutional products during 2026. As earlier coverage of Galaxy's Solana fund launch reported, Galaxy and State Street introduced the SWEEP tokenized cash-management fund on Solana in May. Galaxy has since used Kamino in its onchain financing operations and collateral markets. Recent coverage of institutional tokenized assets noted that tokenized GLXY shares issued through Superstate had already been accepted as collateral on Kamino. Kamino reports more than $20 billion in originated loans. Kamino describes itself as Solana's largest credit platform and said in the Galaxy announcement that it had originated more than $20 billion in loans without bad debt to lenders. The protocol said it had processed more than $650 billion in cumulative transaction activity. Kamino's figures are company-reported operating statistics. Independent DeFi metrics use different definitions. Current DefiLlama data tracks Kamino Lend at approximately $1.33 billion in total value locked and just over $1 billion in active loans. The service records roughly $211 million in cumulative protocol fees. Kamino's announcement describes its credit platform as having roughly $2 billion in AUM. That figure should not be treated as interchangeable with DeFiLlama's TVL because platform AUM and the data provider's locked-value calculation cover different accounting definitions. The protocol's institutional activity has expanded beyond conventional crypto-backed loans. Three days before Galaxy's launch, Kamino introduced lending vaults using tokenized SPY, QQQ and Nvidia shares supplied through Kraken's xStocks platform. As recent tokenized-stock market coverage reported, Kamino held approximately $41.7 million of tokenized-stock DeFi deposits in early September, placing it behind Uniswap V4 in that measured category. Kamino appointed former Yieldstreet co-founder Michael Weisz as CEO on Sept. 15 and announced plans to build a New York operation focused on institutional finance. Coverage of Kamino's U.S. expansion reported that the company plans to recruit staff across finance, legal, compliance, product and business development. For the new Galaxy products, the next changes will occur through ongoing curation. Galaxy can modify market allocations and exposure limits as lending conditions change, while Kamino's infrastructure executes the approved strategy onchain. Galaxy has not published a target amount for deposits into either vault or a deadline for reaching a specific asset level. Its Sept. 17 announcement states that both the USDC and USDT vaults are already live.