Update
Tokenized Stocks Reach $4.63 Billion
On-chain equities have grown from under $1 billion at the start of 2026, reaching a combined market cap of $4.63 billion as of October 28, 2026. This figure matches where stablecoins stood in March 2020, a significant growth story in the crypto space. The sector is concentrated with three issuers holding about 81% of the market: Binance’s bStocks, Ondo Global Markets, and Backed Finance’s xStocks. BNB Chain holds the largest share of tokenized stock value, ranging from 30% to 47%. The March 2020 benchmark, where stablecoins were valued at approximately $4.63 billion, is the headline grabber. Stablecoins have since climbed to roughly $297 billion, representing a 64-fold increase from their initial level.