ONDO Finance leads tokenized stock market with 34% share as sector hits $2.3 billion

The tokenized stock market has quietly become a $2.3 billion sector, nearly doubling from $1 billion in March 2026. And one name sits comfortably at the top: Ondo Finance, which controls roughly 34% of the entire market’s capitalization with approximately $955 million in tokenized equities. That figure puts Ondo well ahead of its nearest competitors. Kraken’s xStocks platform trails at $507 million, while Binance’s bStocks holds $334 million. Depending on which tracker you consult and the timeframe in question, Ondo’s share among dedicated equity tokenization issuers may actually be as high as 58-70%. How Ondo built its lead Ondo Stocks, formerly branded as Ondo Global Markets, launched in September 2025 with a straightforward pitch: let non-US investors mint and redeem tokens representing US equities, 24 hours a day. No market close, no settlement lag, no geographic gatekeeping. The platform hit $1 billion in total value locked by May 2026, a milestone that took roughly eight months from launch. Ondo has pursued an aggressive multi-chain strategy, expanding beyond its initial deployment to integrate with several blockchain networks and wallet providers. The blockchain breakdown Et...