Tokenized stocks, the blockchain-native versions of traditional equities, have surged to a record market capitalization of $2.3B as of mid-July 2026. That figure has roughly doubled since March, when the sector first crossed the $1B threshold.
BNB Chain has emerged as the clear frontrunner in this race, capturing approximately 30% of the total market share. With cumulative trading volumes surpassing $5B by late June and over 700 tokenized stocks and ETFs available on the chain, Binance’s network has become the de facto home for on-chain equities.
Who’s actually building this market
Three names dominate the tokenized stock leaderboard, and they’re not exactly obscure players. Ondo Global Markets leads the pack with around $955M in issued on-chain equities, making it the single largest issuer in the space. That’s nearly half the total market, concentrated in one protocol.
Kraken’s xStocks comes in second with approximately $507M in equity value, while Binance’s own bStocks accounts for roughly $334M. Together, these three platforms represent the vast majority of the tokenized stock market’s capitalization.
