Binance bStocks tops $610M, overtakes xStocks within two months

Binance bStocks has overtaken xStocks to become the second-largest tokenized stock issuer by value, less than two months after the product entered the market. Summary Binance bStocks has become the second largest tokenized stock issuer, reaching $610.6 million in value. BStocks moved ahead of xStocks less than two months after its June launch. Ondo Finance remains the largest issuer, while the tokenized stock market tracked by Token Terminal has grown to about $2.7 billion. Binance co founder Changpeng Zhao attributed bStocks’ rapid growth to the exchange’s existing user base. Token Terminal data showed bStocks reached about $624 million in value on Aug. 3, moving ahead of xStocks at roughly $579 million while remaining behind Ondo Finance, which held about $927 million. As of Tuesday, the gap between the two closest competitors had narrowed. BStocks held $610.6 million, compared with $601.2 million for xStocks, while Ondo remained the largest issuer in the Token Terminal ranking. Tokenized stocks market cap by issuer. Source: Token Terminal data. The change has come during a sharp expansion in tokenized equities, with the total value tracked by Token Terminal climbing from roughly...