Leap Launches Trading App Beta With Millions of Tokens and Tokenized Asset Markets on Solana
Key Facts
Solana Labs subsidiary Leap announced on November 5, 2026, the launch of a beta version of a new trading app, with early access on iPhone. The app brings together tokenized stocks and exchange-traded funds, metals, currencies and cryptocurrencies, alongside millions of tokens on the Solana network. The company said markets are available for trading around the clock, subject to restrictions on certain assets and regions. The launch introduces a retail-focused app that places multiple categories of digital and tokenized assets in one interface. Access to tokenized stocks does not mean ownership of the underlying securities, and access to these assets varies by jurisdiction.
Leap lets users set a dollar amount and confirm a trade with a single tap, with each transaction executed as an on-chain swap. The company uses Jupiter to route trades, Helius for infrastructure and Birdeye for market data. Chris Osborne, Leap's general manager, said the Solana network confirms a transaction in about 150 milliseconds thanks to the Alpenglow upgrade. The Solana Foundation has said the upgrade aims to reduce transaction finality from about 12.8 seconds under the previous TowerBFT system to about 150 milliseconds. The figure refers to transaction finality, not block production rate.
Leap says its research team selects market-moving stories and places them on the price chart at the moment they emerge. The link is intended to show news alongside an asset's price action, allowing users to track the timing of a story against price changes. The platform also calculates profit and loss based on deposits, withdrawals, trades and fees. It displays a break-even price for each position, allowing users to see the price at which the position's costs are offset. These tools bring trade execution, position performance tracking and news context together in the same app.
The company said Leap is not charging its own fees at launch, although network and routing fees still apply. It said these costs are shown to users before they confirm each trade, distinguishing app fees from transaction execution costs. When it begins collecting fees in the future, the company plans to use them to buy and burn SOL, as well as fund a referral program. This arrangement did not begin at launch, and burning SOL is not an active feature of the beta. It reflects a plan tied to future revenue, not a current fee deducted from trades.
The app is currently available on iPhone through the public TestFlight, while the company said an Android release would follow later without specifying a date. Leap is unavailable in the United Kingdom and other restricted regions, and tokenized stocks and funds are unavailable to people in the United States and certain other jurisdictions. The company stressed that these tokens are not the underlying securities, so trading them should not be understood as direct trading in the stock or fund itself. Market and asset availability varies according to applicable geographic restrictions. The beta therefore remains limited by platform, region and available assets.
Leap said early Founders Club members are expected, once fees begin and subject to eligibility terms, to receive 30% of trading fees generated by users they refer directly. The plan also includes a 5% share of trading fees from users referred by those members. Both percentages are tied to a later phase when the app begins charging fees and are not returns available at launch. In the broader market, the Solana Foundation said in a September report that the network hosted more than half of tokenized stock trading volume during 2026. Trading volume in these stocks on the network reached about $4.4 billion in September, while supply reached $684 million, up 47% in three weeks.
The app's launch comes as stock tokenization expands and disputes emerge over its trading. Decrypt reported that Securitize made tokenized Nvidia, Apple and Amazon shares available on Solana, while 56 companies objected to trading their tokenized shares on a platform planned by OKX and ICE. On the U.S. regulatory front, the Securities and Exchange Commission on September 17, 2026, granted temporary, conditional relief to certain national securities exchanges for tokenized stocks. The framework requires tokens to provide rights comparable to traditional stocks and exchanges to halt trading when the underlying stock stops trading. The relief lasts five years from the date of publication, while SEC Chairman Paul Atkins said the relief is temporary and that the agency is inviting public comment as it considers further steps to facilitate on-chain trading of tokenized stocks.