Binance Tokenized Stock Platform Surpasses xStocks in Market Value

Binance's tokenized stock platform, bStocks, has taken the lead as the second-largest issuer of tokenized stocks in value. In just two months since its launch on June 11, it surpassed xStocks by reaching around $624 million on August 3. This is according to data from Token Terminal, which also shows that Ondo Finance remains in first place with about $927 million. As of Tuesday, bStocks maintained its position at $610.6 million, narrowly ahead of xStocks at $601.2 million.

The growth of tokenized stocks has been significant, with the total value tracked by Token Terminal surging from around $80 million to about $2.7 billion in a year. Binance's co-founder and former CEO, Changpeng Zhao, attributed bStocks' rapid growth to its user base.