Tokenized Stocks: Record at $3.9 Billion, BNB Chain Ahead of Ethereum and Solana

Stocks are taking up more space on the blockchain. The market capitalization of tokenized stocks has reached a record $3.9 billion, according to figures released on October 12 by Token Terminal. BNB Chain leads, ahead of Ethereum and Solana. Together, these three networks account for about 70% of the market tracked by the platform.

This growth is accompanied by new uses: some securities can now serve as collateral to borrow stablecoins, while protocols are integrating them into their financial strategies.

Key Points

• Tokenized stocks represent $3.9 billion in market capitalization according to Token Terminal.
• BNB Chain hosts about $1.2 billion, ahead of Ethereum and Solana.
• Aave and Ethena are developing new uses, while South Korea prepares a framework for tokenized securities.

BNB Chain Dominates a $3.9 Billion Tokenized Stock Market

According to figures reported by Token Terminal, BNB Chain holds about $1.2 billion in tokenized stocks. Ethereum follows with $841.9 million, then Solana with $741.7 million. These amounts together represent nearly $2.8 billion, or about 71% of the total announced.

The capitalization here measures the value of the circulating tokens recorded by the platform. It does not correspond to the trading volume or the amount of new investments made during the period.

Tokenization allows financial securities or associated economic rights to be represented on a blockchain. However, the terms vary depending on the issuer: holding a token does not necessarily confer the same rights as owning a stock directly, particularly regarding voting.

In the case of Coinbase products, each token represents a certificate issued by a dedicated structure. The underlying stocks are held with the broker Alpaca, in separate accounts in the name of the issuer. Dividends are reinvested, after deductions and fees, rather than paid directly to holders.

![The market capitalization of tokenized stocks has reached a record $3.9 billion, according to figures released on October 12 by Token Terminal. BNB Chain leads, ahead of Ethereum and Solana. Together, these three networks account for about 70% of the market tracked by the platform.

This growth is accompanied by new uses: some securities can now serve as collateral to borrow stablecoins, while protocols are integrating them into their financial strategies.](https://journalducoin-com.exactdn.com/app/uploads/2026/10/tokenisation-actions-entreprises-US-blockchain-crypto.png?strip=all&quality=90&webp=90&lazy=1) ![The market capitalization of tokenized stocks has reached a record $3.9 billion, according to figures released on October 12 by Token Terminal. BNB Chain leads, ahead of Ethereum and Solana. Together, these three networks account for about 70% of the market tracked by the platform.

This growth is accompanied by new uses: some securities can now serve as collateral to borrow stablecoins, while protocols are integrating them into their financial strategies.](https://public.chaincatcher.com/upload/news/202610/a6162c6964dc4bbcaee1357145716ee9.png) The tokenization of finance continues with three networks dominating the sector -- Source: Account X

From Collateral on Aave to Ethena's Strategies, Uses Diversify

Since September 25, seven tokenized American stocks by Coinbase can be deposited on an Aave V4 market deployed on Base: Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla.

Eligible users outside the United States can use them as collateral to borrow USDC. At launch, these tokens cannot themselves be borrowed, and USDC is the only asset available for borrowing in this dedicated space, called Equities Hub.

Ethena has also extended the strategy supporting its synthetic dollar USDe to tokenized stocks. The protocol combines bStocks on Binance with short positions on perpetual stock contracts. The goal is to limit exposure to price fluctuations while seeking income related to derivative financing. However, this hedge does not eliminate liquidity, counterparty, or divergence risks between instruments.

Beyond stocks, tokenization is gaining ground in funds, bonds, and money market products. Its development now relies on concrete uses: transferring securities, using them as collateral, or integrating them into blockchain financial services. However, this success remains that of an emerging market. To scale up, players will need to attract sustainable liquidity and offer investors clear rights, reliable custody, and means of recourse.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.