Binance bStocks top $1 billion in assets four months after launch
RWA.xyz ranks the product first among tokenized-stock platforms, ahead of Ondo's $873.5 million, in a market it values at $3.27 billion.
- Binance said Oct. 15 that bStocks, its tokenized U.S. securities, have passed $1 billion in assets after four months.
- RWA.xyz data show tokenized stocks held $3.27 billion on Oct. 15, about 31% of it in bStocks by our calculation.
- Nasdaq and Payward expect to launch tokenized equities in the second quarter of 2027, Nasdaq said Sept. 10.
Binance said Oct. 15 that its bStocks tokenized U.S. securities have passed $1 billion in assets under management, four months after launching June 11, as tokenized stocks reach $3.27 billion in total value, according to RWA.xyz data.
The milestone comes four weeks after the SEC granted a five-year exemption for tokenized U.S. stock trading. Binance, which says it does not serve U.S. persons, offers bStocks only under an Abu Dhabi prospectus.
Tokenized stocks pass $3 billion as regulators take notice
Tokenized stocks held $3.27 billion in distributed value on Oct. 15, up 16.9% from 30 days earlier, and counted 4.41 million holders, according to RWA.xyz.
bStocks lead the platform table at about $1.0 billion, or 31% of the total by our calculation ($1.0 billion / $3.27 billion). Ondo is second at $873.5 million and xStocks third at $588.5 million.
The SEC on Sept. 17 granted a five-year exemption for on-chain trading of tokenized U.S. stocks, according to Deloitte's summary of the order. The IMF's October stability report devotes a chapter to the opportunities and risks of tokenizing financial assets.
By the numbers
| Metric | Value | As of | Source |
|---|---|---|---|
| bStocks value on RWA.xyz | About $1.0 billion | Oct. 15, 2026 | RWA.xyz (linked above) |
| Tokenized stocks, distributed value | $3.27 billion | Oct. 15, 2026 | RWA.xyz (linked above) |
| Ondo, tokenized stocks | $873.5 million | Oct. 15, 2026 | RWA.xyz (linked above) |
| bStocks trading volume since June 11 | More than $40 billion | Oct. 15, 2026 | Binance, company-reported |
| Borrowing against deposited bStocks collateral | 46.2% (5.5% at end-June) | Sept. 10, 2026 | Binance Research report |
| bStocks share of tokenized-stock value | About 31% | Oct. 15, 2026 | Our calculation: $1.0 billion / $3.27 billion |
Binance says bStocks volume tops $40 billion as borrowing rises
Binance said bStocks have become the fastest tokenized equity product to reach $1 billion in assets under management, citing Dune Research data. Not independently verified. Each token is backed 1:1 by a U.S.-listed stock or ETF, the company said.
The company said bStocks have traded more than $40 billion since launch and list nearly 100 assets, up from five in June.
That averages about $317 million a day by our calculation ($40 billion / 126 days), consistent with the company's figure of more than $300 million.
Borrowing against deposited bStocks collateral reached 46.2% on Sept. 10, up from 5.5% at the end of June, according to the Binance Research report.
Binance said Sept. 21 that regular, VIP 1 and VIP 2 users must pass a suitability questionnaire before using bStocks as collateral.
Binance's disclaimer says bStocks are not stocks or shares and give holders no direct ownership of the underlying companies, though the company said each token can be converted 1:1 into the stock.
"We're moving of course to a new day — and night," Paul Atkins, chairman of the U.S. Securities and Exchange Commission, said at an SEC roundtable on 24-hour trading on Sept. 17, according to CoinDesk's report.
Atkins said around-the-clock trading will let investors react more quickly to events. Binance said only 38% of July bStocks volume traded during regular U.S. market hours.
How we got here
- June 11, 2026: Binance launches bStocks with five assets, the company said.
- Sept. 10, 2026: Nasdaq agrees to invest $100 million in Payward, Kraken's parent, in a Nasdaq press release.
- Sept. 17, 2026: The SEC grants a five-year exemption for on-chain trading of tokenized U.S. stocks, per Deloitte's summary.
- Sept. 21, 2026: Binance opens bStocks margin collateral to all Cross Margin and Portfolio Margin accounts.
U.S. venues and Nasdaq's 2027 plans set the next test
Watch whether U.S. venues start trading tokenized stocks under the SEC exemption, which expires Sept. 17, 2031.
Nasdaq and Payward expect to launch tokenized equities in the second quarter of 2027, Nasdaq said Sept. 10.
What we do not know: RWA.xyz tracks on-chain value, a different measure from Binance's assets under management, and we could not open the Dune Research dashboard behind the company's figure.
How we reported this: Binance supplied the press release and the company figures. Market data come from RWA.xyz, retrieved Oct. 15; the SEC order is described from Deloitte's summary and the Atkins quote as reported by CoinDesk. The 31% share and the $317 million daily average are our calculations: $1.0 billion / $3.27 billion and $40 billion / 126 days.
Source: www.binance.com