Binance's tokenized stock platform, bStocks, has surpassed $1 billion in assets under management four months after its debut. The exchange announced the milestone on October 15, citing data from analytics platform Dune, and said it marked the fastest rise to that level among comparable products. Because each token is backed by securities held in custody, assets under management tracks capital parked in the product rather than one-day trading churn.

Tokenized stocks are blockchain-based representations of listed equities that can be traded outside traditional exchange sessions. Binance's offering has grown quickly since June, adding listings, volume, and on-chain financial uses along the way.

From Five Listings to Nearly 100 Securities

Binance launched bStocks on June 11 with five tokenized U.S. stocks and exchange-traded funds. The catalog has since grown to nearly 100 securities. The exchange reported more than $40 billion in cumulative trading volume, averaging over $300 million per day.

Users have converted $6 billion between bStocks and direct stock holdings, according to Binance. Each token is backed one-to-one by securities held in custody, although the conversion figure measures cumulative activity rather than assets currently held.

In an October 5 post on X, Binance told eligible users they could switch between tokenized shares and direct stock positions. Separately, the exchange plans to shut down its mining pool in November as it expands access to American securities for customers overseas.

Most Trading Happens Outside Wall Street Hours

In July, only 38% of bStocks trades occurred during regular U.S. market hours, according to Binance, compared with 89.2% for conventional equities — a gap that captures the product's core pitch of equity access outside traditional sessions. Eligible customers can trade the tokens on weekends and transfer them into compatible personal wallets.

Shunyet Jan, Binance's head of exchange and trading, said sustained activity matters beyond the launch period. He noted that customers trade bStocks, pledge them as collateral, and convert them into direct stock positions.

Binance reported that 11.2% of bStocks value was deployed in decentralized finance by early October 2026, exceeding comparable products by 3.8 percentage points. The growth comes as other firms build infrastructure for tokenized securities, with Chainlink recently expanding tools that connect financial networks.

Collateral Borrowing Rises With Tokenization

Borrowing against deposited bStocks collateral reached 46.2% by September 10, up from 5.5% at the end of June — a signal that holders increasingly treat the tokens as collateral rather than only as trading instruments. The exchange extended collateral access to eligible retail customers in September, with account checks and risk controls in place. Traders can pledge supported bStocks for margin and futures positions, borrowing up to five times their collateral value.

Binance said 58.5% of early users had also traded perpetual futures or direct shares by late July. The trend comes as banks expand tokenized deposits, including Wells Fargo. The exchange also estimated that tokenized stock transfers $100 billion during the third quarter, compared with $6 billion in the first — a pace that illustrates how quickly activity around tokenized equities has scaled within the year.

Binance noted that bStocks are backed by underlying securities, but token holders do not receive direct shareholder rights, a key difference from holding direct stock positions.