Binance just proved that the line between crypto exchange and stock brokerage is getting blurrier by the day. The exchange’s new tokenized securities product, bStocks, hit $100 million in assets under management within 15 days of its June 11 launch, an 18-fold jump from its starting AUM of $5.6 million.
That’s not a typo. An 18x increase in two weeks, for a product that lets people trade tokenized versions of US stocks using stablecoins, around the clock, on a blockchain.
What bStocks actually is
Here’s the setup. bStocks are BEP-20 tokens living on BNB Chain, each backed 1:1 by actual US shares held at regulated custodians. Think of them as digital receipts for real stocks, except these receipts can be traded 24/7, withdrawn to self-custody wallets, and plugged into DeFi applications.
The initial lineup featured tokenized versions of heavy hitters like Nvidia (trading as NVDAB) and Tesla (TSLAB). Binance quickly expanded the roster to 25 different assets.
