On-chain transfers involving tokenized equities surpassed $100 billion in the third quarter of 2026, a sharp increase from $6 billion in the first quarter, according to Binance Research data cited by Binance. The figures come as the tokenized equities market expands and Binance’s bStocks product gains share within the category. Tokenized equities represent exposure to publicly traded stocks through blockchain-based instruments, extending equity market activity onto crypto networks.

The broader market reached $4.8 billion in assets under management, a 640% increase from $645 million at the start of the year, based on Token Terminal data cited in Binance’s announcement. bStocks accounted for $1.5 billion of that total, giving it more than 31% market share. Future updates to the same Binance Research and Token Terminal datasets will show whether the category sustains that pace of growth.

The product, which launched June 11, crossed $1 billion in AUM on Oct. 15. Binance also reported more than $45 billion in cumulative trading volume and $7.5 billion in conversions between direct stock positions and bStocks at 1:1 parity.

“Tokenized equities are evolving from a niche experiment into a meaningful part of the global financial system,” said Shunyet Jan, Binance’s regional markets lead. “The rapid growth of bStocks demonstrates how blockchain can make traditional assets more accessible, efficient, and composable with decentralized finance.”

The announcement points to activity beyond conventional trading as another area of growth. Binance said 56% of bStocks trading volume took place outside regular U.S. market hours, while the product’s DeFi utilization, measured by TVL deployment, reached 11.2% in early October — 3.8 percentage points above the comparable rate for other tokenized equities. Traditional U.S. exchanges operate during fixed daytime sessions, so an off-hours majority reflects trading on crypto market infrastructure, which runs continuously.

Collateral use also rose during the period. Binance reported that the proportion of deposited bStocks used for borrowing climbed from 5.5% at the end of June to 46.2% by Sept. 10, an 8.4-fold increase. That ratio ties the certificates to decentralized-finance lending, where deposited assets secure borrowed funds, broadening the product’s use beyond buying and selling.

Despite the expansion, bStocks are not equivalent to direct share ownership. According to Binance, the product consists of certificates representing certain financial instruments under the Abu Dhabi Global Market framework — an international financial center in the United Arab Emirates with its own regulatory system — rather than stocks or shares, and does not provide direct ownership of the underlying companies. The offering is restricted to eligible users in permitted jurisdictions under an approved prospectus and is not available to U.S. persons.

This article originally appeared on Metaverse Post.