Binance Rises to No. 2 in Tokenized Stock Issuance Two Months After bStocks Launch

Binance has become the industry’s second-largest issuer of tokenized stocks by issuance volume just two months after launching its bStocks service.

Cointelegraph reported on August 13, citing Token Terminal data, that bStocks had issued about $624 million of tokenized stocks as of early August. That surpassed xStocks, the previous No. 2 issuer, which had issued about $579 million.

Ondo Finance ranked first with about $927 million of tokenized stock issuance.

Binance launched bStocks in June. The service is designed to let investors gain exposure to US stocks through blockchain technology without directly holding the underlying shares.

Binance co-founder Changpeng Zhao, also known as CZ, recently attributed bStocks’ growth to the exchange’s large user base.

The tokenized stock market is also expanding rapidly. Token Terminal data show total tokenized stock issuance has surged over the past year from about $80 million to about $2.7 billion.