Bullish
bStocks Market Cap Surges to $611M, Overtaking Kraken xStocks
18:01
Binance's bStocks reached $611M in less than two months, surpassing Kraken's xStocks to rank second globally behind Ondo Finance in tokenized equity issuance.
Woofun AI data shows that Binance's bStocks product achieved a market value of approximately $610.6 million by Tuesday, securing the position of the second-largest issuer of tokenized stocks. This figure exceeds Kraken's xStocks, which stood at $601.2 million, while Ondo Finance remains the market leader with $927 million. The product was introduced on June 11, enabling blockchain-based exposure to U.S. equities without direct ownership. Changpeng Zhao attributed the rapid adoption to the exchange's existing user base. The broader tokenized stock market has expanded from $80 million to $2.7 billion over the past year.
WOOFUN AI
Impact Assessment · Quick Read
The rapid ascent of bStocks highlights the accelerating demand for regulated tokenized equities on major centralized exchanges. By surpassing Kraken, Binance leverages its liquidity advantage to capture significant market share in this niche. This growth suggests that traditional asset tokenization is moving beyond early adopters, potentially increasing competition for pure-play DeFi protocols like Ondo Finance.
Generated by WOOFUN AI · For reference only, not investment advice
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