Binance bStocks Surges Past xStocks in Tokenized Stock Issuance

Binance's tokenized stock offering, bStocks, has rapidly gained traction in the market. In less than two months since its launch on June 11, it has surpassed Kraken's xStocks to become the second-largest issuer of tokenized stocks.

According to data from Token Terminal, as of August 12, bStocks had an issuance value of $611.06 million, while xStocks trailed behind at $601.2 million. Ondo Finance maintained its top position with a valuation of about $927 million.

The tokenized stock market has undergone significant changes over the past year. In August last year, xStocks led with an issuance value of $40.7 million, followed by Robinhood at $37.2 million. Ondo Finance was a distant third at around $65,000. The overall market size tracked by Token Terminal grew from approximately $80 million to about $2.7 billion.