bStocks Market Cap Surges to $611M, Overtaking Kraken xStocks

Binance's bStocks reached $611M in less than two months, surpassing Kraken's xStocks to rank second globally behind Ondo Finance in tokenized equity issuance.

Woofun AI data shows that Binance's bStocks product achieved a market value of approximately $610.6 million by Tuesday, securing the position of the second-largest issuer of tokenized stocks. This figure exceeds Kraken's xStocks, which stood at $601.2 million, while Ondo Finance remains the market leader with $927 million. The product was introduced on June 11, enabling blockchain-based exposure to U.S. equities without direct ownership. Changpeng Zhao attributed the rapid adoption to the exchange's existing user base. The broader tokenized stock market has expanded from $80 million to $2.7 billion over the past year.