Binance's tokenized stock platform, bStocks, surpassed $1 billion in assets under management four months after its June launch, the exchange announced on October 15.
The platform expanded rapidly since its June 11 debut with five tokenized U.S. stocks and exchange-traded funds. The offering now covers nearly 100 securities and has recorded over $40 billion in cumulative trading volume, averaging more than $300 million daily.
Conversion Activity and User Engagement
Users converted $6 billion between tokenized shares and direct stock positions, with each token backed one-to-one through securities held in custody. The exchange extended conversion capabilities to eligible users in early October.
In July, 62% of bStocks trading occurred outside regular U.S. market hours, compared with only 11% for conventional equities. Binance noted that eligible customers can trade tokens on weekends and transfer them into compatible personal wallets.
Collateral and Borrowing Growth
Borrowing against deposited bStocks collateral reached 46.2% by September 10, up significantly from 5.5% at the end of June. The exchange extended collateral access to eligible retail customers in September, subject to account checks and risk controls.
Traders can pledge supported bStocks for margin and futures positions, with borrowing permitted up to five times their collateral. By late July, 58.5% of early users also traded perpetual futures or direct shares.
Broader Tokenization Trends
Approximately 11.2% of bStocks value was deployed in decentralized finance by early October. Binance estimated tokenized stock transfers exceeded $100 billion during the third quarter, compared with $6 billion in the first quarter. The exchange cautioned that bStocks holders do not receive direct shareholder rights despite the underlying securities backing.
