Binance Research: Tokenized Stocks Shift from Issuance to Distribution and Utilization Competition

Binance Research has analyzed that competition in the tokenized stocks market is transitioning from simple issuance to a focus on distribution and practical application. Active tokenized stocks market capitalization increased by 314% to $4 billion this year, while monthly trading volume surged from $237 million in January to $7.9 billion in August. Notably, the share of total tokenized stocks trading volume held by bStocks and Robinhood rose from 0.8% in June to 82.3% in August and 87.8% as of September. The DeFi TVL for tokenized stocks also grew from $21.6 million to $289 million.

Binance Research explained that future competitiveness will depend more on user acquisition, liquidity maintenance, and the ability to expand on-chain utilization rather than issuance itself.