Binance shakes up Kraken and seizes 2nd place worldwide in tokenized stocks
Stocks
Binance has secured the second position in the tokenized stocks market, reaching a value of approximately 610.6 million dollars for its bStocks product. This milestone, achieved less than two months after the June 11 launch, allowed Binance to surpass Kraken’s xStocks, which currently holds 601.2 million dollars. Ondo Finance continues to lead the sector with a significant margin, maintaining a value of approximately 927 million dollars. The rapid growth of Binance's offering is largely attributed to its existing massive user base, which facilitates immediate product adoption. This shift occurs within a broader market expansion, as the total value of tokenized stocks tracked by Token Terminal has surged from 80 million dollars a year ago to 2.7 billion dollars today. The sector's momentum is further evidenced by a 105% monthly increase in transfer volumes, reaching 8.41 billion dollars in July. This competitive landscape highlights the increasing institutional and exchange-level focus on bringing traditional securities onto the blockchain to enhance accessibility and trading efficiency.
Key points
- ▸Binance's bStocks reached 610.6 million dollars, overtaking Kraken's 601.2 million dollars in market value.
- ▸Total tokenized stock market value grew from 80 million to 2.7 billion dollars in one year.
- ▸Ondo Finance remains the market leader with approximately 927 million dollars in tracked value.
- ▸Monthly transfer volumes for tokenized stocks increased by 105% in July to 8.41 billion dollars.
Background
Tokenized stocks are blockchain-based digital assets that provide exposure to the price movements of traditional equities. These tokens allow investors to trade fractional shares and often enable 24/7 market access, though they do not always confer direct shareholder rights like voting or dividends depending on the specific legal structure.
Relevance
7.5/10