Binance bStocks becomes second-largest tokenized stock issuer

Binance bStocks has become the second-largest issuer in the tokenized stock market, overtaking Kraken xStocks less than two months after its June 11 launch. According to Token Terminal data, bStocks reached an assets under management (AUM) of approximately $610.6 million as of mid-August, narrowly maintaining its lead over xStocks, which sits at roughly $601.2 million.

Ondo Finance remains the market leader with approximately $927 million in AUM. The broader tokenized stock sector has experienced massive growth, expanding from a total tracked value of roughly $80 million a year ago to approximately $2.7 billion today.

Binance co-founder and former CEO Changpeng Zhao attributed the rapid ascent of bStocks to the platform’s extensive existing user base. The service allows investors to gain exposure to US equities, such as NVIDIA, Apple, and Tesla, via blockchain-based tokens without direct ownership of the underlying shares. The product features zero transaction fees and supports real-time settlement on the Solana network.