Binance's bStocks platform added GameStop and crossed $500M in assets seven weeks after launch. The tokenized shares are backed by real equities and restricted to eligible users.
Binance added GameStop (GME) to its bStocks tokenized equity product on Aug. 12, making the shares available as margin collateral. The exchange's bStocks platform crossed $500 million in assets under management seven weeks after its June launch, Binance said.
Each bStock token is backed one-to-one by a real U.S. share held by a legal custodian. The tokens are issued by BTech Holdings, a Binance affiliate regulated under Abu Dhabi Global Market rules. Binance ran a similar tokenized stock product in 2021. It shut it down after regulators in Germany and the UK flagged concerns about structure and disclosures. Hong Kong's securities regulator also raised issues.
The new bStocks run on BNB Smart Chain and are structured to meet ADGM requirements, Binance said. The product is available only to eligible users in specific jurisdictions. The $500 million AUM figure covers all 46 bStock listings, which include NVIDIA and other names that attract speculative interest.
GameStop, the meme-stock that surged in 2021, carries an AlphaScore of 41 out of 100 on AlphaScala, classified as Mixed. NVIDIA, also listed on bStocks, scores 74 (Moderate) and traded at $223.83 on the session, up 2.91%.
The bStock versions offer 24/7 trading and can be moved to a crypto wallet or used as collateral for leveraged positions. The product is restricted to eligible users in specific jurisdictions.
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