Wendy's Corp (WEN.US) is now trading on-chain. Raydium RAY$1.60+0.6% confirmed the tokenized equity went live at 14:50 UTC today, issued by Backpack Securities and brought onto Solana by Sunrise, the Wormhole Labs tokenization protocol behind Backpack's growing equity roster. By 17:56 UTC (roughly three hours after opening), Raydium reported $7.3 million in trading volume, more than 108,000 trades, and 6,700-plus unique wallets.
The structure is the same one Sunrise and Backpack Securities used for earlier Solana equity listings. Sunrise wraps the underlying equity into a Solana token, Backpack Securities holds the corresponding shares as a regulated broker-dealer, and the resulting token trades on Raydium pools around the clock. The same setup carried SanDisk's SNDK onto Solana in June and Strategy's tokenized MSTR shares in July.
Wendy's is among the more recognizable consumer brands to join the roster, which has so far spanned technology, pharmaceutical, and financial names.
StonkFun Activates WEN as a Base Pair for Meme Token Launches on Raydium
Simultaneous with the listing, StonkFun (operated by LaunchOnSF) opened Wendy's stock as a base pair asset on its Solana launchpad. The platform lets users create new tokens whose liquidity pools are denominated in a tokenized stock, a cryptocurrency, or another asset, rather than SOL or a stablecoin. New tokens launch on a bonding curve and, once they reach a graduation threshold, their liquidity migrates automatically into a Raydium pool.
StonkFun routes all token launches through Raydium's LaunchLab (the token-creation infrastructure Raydium built after its split with Pump.fun), and the two platforms share the resulting fee generation.
By 17:00 UTC, StonkFun added ORE (ORE), the Ore Protocol mining token, as a second pairing option alongside WEN. The expansion extends the model to established Solana-native crypto assets as well as tokenized equities.
Holding a meme token created on StonkFun does not confer any ownership of the underlying stock or any legal claim against the company it tracks. The pairing is a market structure mechanic, not an equity interest.
WEN Volume Adds Demand Weight on a Record Day for Tokenized Equity Supply
Today's WEN launch arrives as Solana's tokenized equity supply hit a fresh record, detailed in an earlier report published this morning. The WEN first-day volume contributes to that picture on the demand side: 6,700 wallets engaging with a tokenized equity that did not exist on-chain before noon UTC today.
Raydium's own account captured the moment: "Stonk szn on Solana."
