Binance bStocks passes xStocks as second
Stocks
Binance's bStocks platform has rapidly ascended to become the second-largest issuer of tokenized stocks less than two months after its June 11 launch. As of early August 2026, bStocks reached a valuation of approximately $610.6 million, narrowly outpacing Kraken’s xStocks, which held $601.2 million. Ondo Finance currently maintains the market lead with roughly $927 million in tokenized assets. This growth reflects a broader expansion in the tokenized stock sector, which has surged from a total market value of $80 million a year ago to approximately $2.7 billion. The rapid adoption of bStocks is largely attributed to Binance's massive existing user base, which provides immediate liquidity and access to the product. These tokens allow investors to gain exposure to U.S. equities via blockchain-based assets without the requirement of direct share ownership. This shift highlights the increasing institutional and retail appetite for on-chain equity exposure, signaling a significant maturation of the RWA sector.
Key points
- ▸Binance bStocks reached $610.6 million in value, surpassing Kraken's xStocks at $601.2 million.
- ▸Total tokenized stock market value grew from $80 million to $2.7 billion in one year.
- ▸Ondo Finance currently leads the sector with approximately $927 million in tokenized assets.
- ▸Binance launched bStocks on June 11 to provide blockchain-based exposure to U.S. equities.
Background
Tokenized stocks are digital representations of traditional equity shares recorded on a blockchain ledger. These assets allow investors to trade fractionalized versions of stocks with increased settlement speed and 24/7 accessibility compared to traditional brokerage systems. They typically function by backing the digital token with the underlying equity held in custody by a regulated financial institution.
Relevance
7.5/10