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Binance users now hold more than $3 billion in traditional financial assets through the exchange’s Direct Stocks and bStocks products.
The figure, shared by Binance, is dated November 10, 2026. On the same date, bStocks, the company’s tokenized equity product, accounted for $1.5 billion in assets under management (AUM) on its own.
Binance is pitching that result as proof that bStocks is the leading platform for tokenized equities. That is the company’s own framing, though the growth curve behind it is real enough to take seriously.
Two products, one fast ramp
Binance launched the two offerings about ten days apart, and both grew quickly.
Direct Stocks went live on June 1, 2026. It gives users access to more than 7,000 US stocks and exchange-traded funds (ETFs), with trades settled in stablecoins.
The product reached $1 billion in AUM within 30 days. It also logged cumulative trading volume of approximately $3 billion over that stretch.
bStocks arrived on June 11, 2026. It crossed $100 million in AUM within 15 days of launch.
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From there, the milestones kept coming:
- $500 million by late July
- $1 billion by mid-October
- $1.5 billion as of November 10
Who is actually buying
About 73% of early Direct Stocks users come from emerging markets, according to the research findings. These are people who have historically had a harder time getting exposure to US equities through conventional channels.
Users also skew younger. Many of them trade heavily outside regular US market hours, which suggests a crowd accustomed to crypto’s always-open schedule rather than the opening and closing bells of Wall Street.
Users are also moving between the two products. Cumulative conversions between Direct Stocks and bStocks have exceeded $6 billion as of November 10, 2026.
The bigger TradFi push
Binance processed more than $80 billion in monthly TradFi trading volume across related products since March 2026.
Meanwhile, Binance Research has identified tokenized equities as the fastest-growing real-world asset class in 2026. It is worth noting that Binance Research is the exchange’s own research arm. Its conclusion about tokenized equities is not independent, but it does match the growth numbers Binance is reporting for its own products.
What this means for exchanges, brokers and investors
The emerging-market concentration is the key detail. A user in a country with limited brokerage options, unstable local currency, or slow banking rails may find stablecoin-settled US stock access genuinely useful, not just a novelty.
Still, investors should keep an eye on the risks. Regulatory developments around tokenized stocks remain a key variable, and the research findings explicitly flag that investors may need to stay vigilant as rules evolve.
Tokenized and stablecoin-settled equity products sit at the intersection of securities law and crypto regulation. The rules can vary sharply depending on where a user lives.
