Binance’s tokenized stock product, bStocks, has surpassed Kraken’s xStocks to become the second-largest issuer in the sector by total value. Data from August 13, 2026, shows bStocks holding approximately $610.6 million, edging out Kraken’s $601.2 million. This shift occurred less than two months after Binance launched the platform in June 2026.
The rapid rise of bStocks highlights a broader surge in demand for tokenized equities. The total market for these assets has grown from roughly $80 million a year ago to about $2.7 billion in August 2026. While Binance and Kraken compete for the second spot, Ondo Finance remains the clear leader with approximately $927 million in total value.
Key facts
- Binance launched bStocks on June 11, 2026, offering blockchain-based exposure to US stocks without direct ownership.
- On August 3, 2026, bStocks reached $624 million in value, surpassing Kraken’s xStocks, which held $579 million at that time.
- As of August 13, 2026, bStocks maintained its lead with $610.6 million compared to xStocks’ $601.2 million.
- Ondo Finance is the largest tokenized stock issuer, with approximately $927 million in total value.
- The total value of tokenized stocks tracked by Token Terminal rose from ~$80 million one year prior to ~$2.7 billion in August 2026.
- In August 2025, Kraken’s xStocks led the market with $40.7 million, while Robinhood held $37.2 million and Ondo had just $65,000.
Why it matters
This development signals accelerating adoption of tokenized real-world assets on major cryptocurrency exchanges. For users, it provides more options for gaining exposure to traditional equity markets through blockchain infrastructure. The rapid growth from $80 million to $2.7 billion in one year suggests increasing institutional and retail interest in bridging traditional finance with crypto ecosystems.