Crypto▲ Bullish
Binance bStocks and xStocks Drive 70% of Tokenized Equity DEX Volume
Binance's bStocks and Kraken's xStocks control 70% of tokenized equity DEX volume. bStocks alone hit $624M AUM and $7.4B July volume, outpacing xStocks.
Continue with
Tokenized stocks have grown from a niche crypto experiment into a $13.7 billion market, and Binance's bStocks product now dominates the field.
Together, Binance's bStocks and Kraken's xStocks accounted for 70.1% of all DEX trading volume in tokenized equities, combining for $9.6 billion of the $13.7 billion total. The split between the two, though, is far from even.
Binance launched bStocks on June 11, 2026. Within 15 days, the product hit $100 million in assets under management. By early August, bStocks' AUM had grown to roughly $624 million, surpassing Kraken's xStocks, which sat in the $579 million to $601 million range.
In July 2026 alone, bStocks generated $7.4 billion in DEX trading volume, about 85% of all decentralized tokenized stock trading that month. Monthly volume surged from $2.9 billion to $8.8 billion in that same period.
Broader data shows an even starker picture: bStocks reportedly drove $19.9 billion of a $22.89 billion monthly total across all tokenized equity trading venues.
Weekend trading volumes alone have hit $2 billion, a key selling point. Traditional stock markets close Friday afternoon and don't reopen until Monday morning. Tokenized stocks don't take weekends off.