Binance's bStocks Surpasses Rivals as Leading Issuer of Tokenized Circle Stock

Binance’s bStocks platform has officially become the largest issuer of tokenized Circle Internet Group stock, overtaking two early market players. As of October 20, 2026, bStocks holds $149.5 million of the total $373.3 million in tokenized Circle stock issued across various platforms.

Rapid Growth in Tokenized Circle Market

Since its launch on June 11, 2026, bStocks has quickly climbed the ranks, adding $45.4 million in market capitalization from its tokenized Circle exposure alone in the month leading up to early October. The platform now leads the market, followed by xStocks with $102.7 million and Ondo with $97.3 million.

What is bStocks?

bStocks offers tokenized versions of various stocks, including Circle’s CRCLB, as BEP-20 assets on the BNB Smart Chain. Each token is backed 1:1 by an underlying share, allowing for 24/7 trading outside traditional market hours. The platform operates under the regulatory framework of the Abu Dhabi Global Market, catering to non-U.S. users.

Significant Milestones

• Crossed $1 billion in assets under management within four months of launch.
• Now lists nearly 100 tokens, with stock-to-token conversions reaching $6 billion.
• Cumulative trading volume has surpassed $40 billion.

Market Dynamics

The tokenized Circle market has become increasingly competitive, with bStocks now leading in market share. Circle Internet Group, which trades on the NYSE under the ticker CRCL, has seen its tokenized version become a closely tracked asset, reflecting user trust and preference.