Sunrise tokenizes SanDisk stock on Solana in RWA push

Sunrise, a protocol specializing in real-world asset tokenization, launched a tokenized version of SanDisk Corp. stock under the ticker SNDK on the Solana blockchain on June 24, enabling on-chain trading of the NAND flash memory maker's equity.

"Tokenized equities on Solana enhance market accessibility and liquidity by allowing investors to trade traditional stocks 24/7 without traditional brokerage intermediaries," a Sunrise protocol representative said. "This also opens exposure to assets that may be restricted in certain jurisdictions."

SanDisk shares have surged more than 700% year-to-date, reaching a 52-week peak of $2,354.39 on June 22 before retreating to around $1,963.60 amid a broader memory-chip selloff. The company reported third-quarter revenue of $5.95 billion, up 251% from a year earlier and well above the $4.55 billion consensus estimate, according to its April 30 earnings release. Non-GAAP earnings per share came in at $23.41 versus the $14.36 analyst forecast.

The tokenization of SanDisk stock reinforces the real-world assets narrative on Solana, one of the fastest-growing trends in decentralized finance. By bridging traditional equity markets with on-chain infrastructure, Sunrise's SNDK token could attract equity investors seeking round-the-clock trading and composability with DeFi protocols. The launch also sets a precedent for additional tokenized stocks on Solana, potentially boosting the network's total value locked and related protocol activity, though regulatory uncertainty around tokenized securities remains a risk across jurisdictions.

This article is for informational purposes only and does not constitute investment advice.