DeFi Development Corp stock to go onchain via Kraken

The company’s CEO described the stock tokenization as a “DeFi Lego block,” suggesting it serves as a foundational piece for decentralized finance adoption.

Update (June 23, 2025 at 10:02 PM UTC): This article has been updated to state that Backed created the xStocks platform.

DeFi Development Corp., a Solana treasury company formerly known as Janover, announced plans to tokenize its shares through a partnership with crypto exchange Kraken.

According to a Monday announcement, the company will use xStocks, a tokenization platform created by Backed, to bring its shares onchain. Kraken announced a partnership with xStocks in May, promising to offer investors tokenized shares of US-listed companies such as Apple, Tesla and Nvidia to users in other regions. The platform is built on the Solana blockchain.

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