Solana Labs' Leap Launches Beta App for Tokenized Stocks and Crypto

Solana Labs has launched a beta mobile app that trades tokenized stocks, ETFs, metals, currencies and crypto in a single interface, with every order executed as an on-chain swap routed through Jupiter.

The app, called Leap, went live Thursday in early access on iPhone via Apple's public TestFlight program. An Android version is coming soon. It is not available in the U.K. or other restricted regions, and trading runs around the clock subject to restrictions.

Who built it, and on what rails?

Leap sits under Solana Labs and was built by the team behind Dialect, which Solana Labs acquired earlier this year. Dialect developed Solana Actions and Blinks, the 2024 protocol that turns blockchain transactions into shareable links, as well as the cashtags feature on X.

The infrastructure stack is named and specific. Jupiter handles trade routing. Helius provides infrastructure. Birdeye supplies market data. Users enter a dollar amount, and each trade executes as an on-chain swap.

Leap is positioning itself against fast-paced meme coin trading. Its pitch targets people who want to make better-informed decisions over the long term. To that end, a research team curates market-moving news and pins each story to the price chart at the moment it broke. The app also tracks profit and loss across every deposit, withdrawal, trade and fee, including each position's breakeven price.

What do the founders say about speed?

"The Solana blockchain now confirms a trade in about 150 milliseconds thanks to Alpenglow, so the network is now faster than ever," said Chris Osborn, Leap's general manager and Dialect's founder. Alpenglow is Solana's consensus overhaul, designed to sharply cut confirmation times.

Solana Labs co-founder and CEO Anatoly Yakovenko framed the launch in ecosystem terms. "Every app that brings new people onchain makes the whole ecosystem stronger," he said.

How will Leap make money?

Leap is not charging its own fees at launch, though network and routing costs apply. The monetization plan is twofold:

• Future fees will buy and burn SOL, permanently removing tokens from circulation.
• A referral program will pay early waitlist members, dubbed the Founders Club, 30% of trading fees generated by users they invite, plus 5% from those users' own referrals.

That structure ties Leap's revenue directly to Solana's token economics — the more the app earns, the more SOL leaves circulation.

Where does this fit in the tokenized stock boom?

Leap arrives as tokenized stocks gain traction on Solana and beyond. Securitize has already brought tokenized Nvidia, Apple and Amazon shares to the network. The trend has also drawn pushback: 56 companies have objected to having their shares traded on OKX and ICE's planned tokenized stock venue.

What does this change for Solana? It puts the network's core lab entity directly behind a consumer trading product, rather than leaving retail distribution to third-party apps. If the burn mechanism scales with volume, it also creates a new channel through which trading activity on one app feeds back into SOL's supply.

The near-term watch items are concrete: the Android rollout, the timing of the first fee switch, and whether corporate objections to tokenized equities draw regulatory attention before Leap's beta becomes a full release.