Tokenized Stocks Shift From Issuance to Distribution and Usage, Binance

The tokenized stock market is moving into a new phase in which distribution, liquidity and real-world usage are becoming more important than simply issuing additional products, according to Binance Research.

As reported by WuBlockchain, Binance Research said active tokenized stock market capitalization has risen 314% year to date to $4 billion. Monthly trading volume has also surged from $237 million in January to $7.9 billion in August, while market turnover increased from 0.23x to 2.14x.

bStocks and Robinhood Gain Market Share

The shift is also reflected in the changing competitive landscape among tokenized stock platforms.

According to the figures cited by Binance Research, the combined share of bStocks and Robinhood in tracked issuer volume jumped from 0.8% in June to 82.3% in August and 87.8% so far in September.

The rapid increase indicates that market activity is becoming increasingly concentrated around platforms capable of attracting users and sustaining trading liquidity after tokenized stocks are issued.

Binance Research has previously highlighted the rapid expansion of bStocks. Its July research found that bStocks market capitalization had crossed $500 million, while cumulative trading volume reached $8.7 billion. The report also found that 72% of the cumulative volume had been executed on-chain.

Tokenized Stocks Expand Into DeFi

The growth is not limited to trading activity. Active DeFi total value locked for tokenized stocks increased from $21.6 million to $289.1 million, while its share of active tokenized stock market capitalization rose from 2.2% to 7.2%.

Binance Research said the figures point to a broader competition over how tokenized stocks are distributed and used. Issuance by itself does not determine where liquidity ultimately flows. Platforms with stronger user acquisition, liquidity retention and additional on-chain applications could have an advantage as the markets develops.

Binance has also expanded the ways bStocks can be used within its ecosystem. In August, the exchange announced that selected bStocks would become eligible collateral assets for margin products, adding another potential use case beyond straightforward trading.

The key question for the sector is now whether the sharp growth in trading and DeFi activity can translate into sustained liquidity and broader on-chain utility as tokenized equities continue expanding.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.