Tokenized Pre-IPO on Solana
Xavier Ekkel, founder of PreStocks, on 24/7 tokenized pre-IPO stock
Choosing Solana is really a distribution decision, not just a technical one. Tokenized private stock works best where lots of small traders already keep money on chain, use wallets daily, and jump between apps for swapping, borrowing, and speculation. That makes pricing sharper and trading more continuous than traditional private secondaries, where each trade is negotiated one by one and can take weeks to settle.
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Public and private tokenized stock are structurally the same at the trading layer. A token sits in a wallet, can move across exchanges and DeFi apps, and trades against live bids and asks. The key difference is the underlying asset. Public stock has a visible market price, while private stock needs the token market itself to create that reference price.
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Solana matters because the biggest consumer trading apps are already there. Phantom surfaces Jupiter, pump.fun, Photon, GMGN, DEX Screener, and Raydium as trending apps, and Kraken issues xStocks as Solana SPL tokens that can be withdrawn and traded on chain. That means tokenized equities can plug into an existing retail trading habit instead of asking users to learn a new venue.
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The main contrast is with closed systems. Robinhood says its stock tokens cannot be sent to other wallets or platforms today, while PreStocks is built around tokens that can circulate across Solana venues. Open circulation is what lets liquidity pool, lets holders use the same asset in multiple apps, and lets a token become a real market rather than just a feature inside one brokerage.
The next step is private shares becoming another on chain asset class beside stablecoins, perps, and tokenized public equities. If Solana keeps attracting the deepest retail trading flow, tokenized private stock will likely develop first as a continuous global price layer, then as collateral and market structure that starts to look much closer to public markets.