Tokenized stocks hit all-time high of $3.1B in market cap as BNB Chain dominates

The on-chain market cap for tokenized stocks just crossed $3.1 billion, a new all-time high for a sector that barely existed in meaningful form a couple of years ago. BNB Chain accounts for roughly a third of that figure on its own, with over $1 billion in tokenized equity market cap sitting on the network. For context, the entire tokenized stocks market was hovering around $1.7 billion at the end of June. It nearly doubled in about two months. BNB Chain’s outsized role BNB Chain has emerged as the dominant player in tokenized equities. By late August, the chain’s share of the total tokenized equities supply reached approximately $1.3 billion, capturing close to 50% of the estimated $2.9 billion market at that point. Cumulative trading volume on BNB Chain for tokenized stocks and ETFs has surpassed $5 billion. The catalyst was Binance’s launch of bStocks on June 11. The product creates BEP-20 tokens backed 1:1 by actual US stocks and ETFs, meaning each token is supposed to represent a real share held in reserve. Within two weeks of launch, bStocks hit $100 million in assets under management. By late August, cumulative bStocks volume had blown past $19 billion. The product now offer...