Binance’s bStocks has climbed to second place by issuance value in tokenised stocks less than two months after its launch. Cointelegraph reported on Aug. 13 that bStocks overtook Kraken’s xStocks to rank second behind Ondo Finance.
Token Terminal data showed bStocks’ issuance value stood at about $624 million on Aug. 3, above xStocks at $579 million. Ondo Finance held on to first place at about $927 million. As of Aug. 12, bStocks was tallied at $611.06 million and xStocks at $601.2 million.
The issuer landscape in the tokenised stock market has also changed sharply over the past year. At the same time last year, xStocks led with $40.7 million, followed by Robinhood with $37.2 million. Ondo Finance was at about $65,000 at the time. The overall market size tracked by Token Terminal grew from about $80 million to about $2.7 billion.
Binance launched bStocks on June 11. Investors can invest in U.S. stocks through blockchain-based tokens without directly holding the underlying shares.
Chi-gyu Hwang
delight@d-today.co.kr