Binance tokenized stocks surpass $1 billion as trading volume tops $40 billion

bStocks, Binance’s tokenized instrument designed to track the price of US-listed shares, has reached $1 billion in assets under management in roughly four months, making it the fastest tokenized equity product to achieve the milestone since launching on June 11, according to Dune Research data.

Cumulative trading volume has exceeded $40 billion, averaging more than $300 million per day, and the number of listed bStocks has expanded from five to nearly 100, the exchange said Thursday.

bStocks let eligible users access tokenized versions of selected US-listed stocks and ETFs through blockchain-based certificates backed 1:1 by the underlying securities.

Issued by BTech Holdings Limited, a Binance-affiliated entity registered in Abu Dhabi Global Market, the tokens operate on BNB Smart Chain and support round-the-clock trading, transfers to compatible wallets and certain DeFi uses.

Binance also reported $6 billion in conversions between tokenized assets and direct stock positions. Adoption has extended into decentralized finance, where bStocks deployment reached 11.2% in early October, while the share of deposited bStocks collateral being borrowed against rose to 46.2% by Sept. 10 from 5.5% at the end of June.

The exchange said more than half of its early users also traded perpetual futures or direct equities on Binance.

Demand for trading outside traditional market hours has also emerged, with 62% of bStocks volume in July occurring outside regular US trading hours.

Across the market, tokenized stock transfers exceeded $100 billion in the third quarter, up more than 16-fold from the first quarter, and tokenized equities’ market capitalization climbed above $3 billion by late September.