Binance bStocks Overtakes xStocks in Tokenized Stock Market

Binance bStocks passed Kraken’s xStocks to rank second among tokenized stock issuers less than two months after its June launch, Token Terminal data shows.

Binance bStocks Overtakes xStocks in Tokenized Stock Market

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Written by

Helen Partz

staff writer

Reviewed by

Yohan Yun

staff editor

Written by

Helen Partz

staff writer

Reviewed by

Yohan Yun

staff editor

Binance bStocks passes xStocks as second-largest tokenized stock issuer

Latest News

Published

Aug 13, 2026

Binance bStocks became the second-largest tokenized stock issuer less than two months after launch, narrowly ahead of Kraken’s xStocks.

Binance bStocks has overtaken xStocks to become the second-largest tokenized stock issuer by value less than two months after launch.

BStocks reached about $624 million on Aug. 3, surpassing xStocks at roughly $579 million but trailing Ondo Finance at about $927 million,

according

to Token Terminal data. As of Tuesday, bStocks remained in second place at $610.6 million, narrowly ahead of xStocks at $601.2 million.

The issuer landscape has shifted sharply as the tokenized stock market has grown. A year earlier, xStocks led with $40.7 million, followed by Robinhood at $37.2 million, while Ondo held about $65,000. The total value tracked by Token Terminal has since surged from roughly $80 million to about $2.7 billion.

Tokenized stock value by issuer on Aug. 3, 2025, Aug. 2, 2026 and Aug. 3, 2026. Source: Token Terminal

Binance

launched

bStocks on June 11 to give investors exposure to US stocks through blockchain-based tokens without directly owning the underlying shares.

Changpeng Zhao, Binance’s co-founder and former CEO,

attributed

bStocks’ rapid growth to Binance’s user base.

Related:

Ondo shifts from layer-1 blockchain plan to offchain execution network

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