Binance’s tokenized stock platform bStocks has surpassed Kraken’s xStocks to become the second-largest issuer of tokenized equities globally.
The milestone was achieved less than two months after bStocks’ mid-March launch, according to data tracking tokenized stock issuance volumes. The platform now holds the second position by issuance volume, narrowly edging out Kraken’s xStocks.
Tokenized stocks represent fractional ownership of traditional equities recorded on blockchain networks. The asset class has gained traction as institutional and retail investors seek blockchain-based alternatives to traditional brokerage accounts. Binance’s rapid ascent in the space reflects broader industry efforts to expand tokenized asset offerings beyond cryptocurrencies.
Kraken’s xStocks, launched in late 2023, had previously held the second spot. The platform remains a key competitor in the tokenized equities market, which is still in its early stages of adoption.
Binance did not immediately respond to requests for comment on the ranking or its growth strategy for bStocks.
