BStocks captures 85% of tokenized equity DEX volume in July as trading hits $9.4 billion

Binance’s tokenized equities arm, bStocks, now controls a commanding 85% share of all tokenized equity trading volume on decentralized exchanges. July’s on-chain volume for the product hit roughly $9.4 billion, up from $2.9 billion the prior month. BStocks launched as BEP-20 tokens on BNB Chain around June 10-11, and within seven weeks it had crossed $500 million in assets under management, representing about 27% of the entire global tokenized equity market cap by late July. One token to rule them all The engine behind bStocks’ meteoric rise isn’t a diversified basket of tokenized stocks. It’s overwhelmingly a single product: QQQB, a token tracking the Invesco QQQ ETF. QQQB alone generated approximately $9.27 billion in trading volume, meaning it accounted for nearly all of bStocks’ activity. The broader tokenized equities market saw total DEX volume somewhere between $11.3 billion and $18.2 billion in July depending on the source, which means this one Nasdaq-100 tracker was responsible for a staggering chunk of the entire sector’s throughput. The incentive machine BStocks’ explosive adoption didn’t happen by accident. The exchange offered zero maker fees through August, removing t...