bStocks
On-chain AUM$609.79m
Platform totals
Live assets36
Chains1
DeFi TVL$11.07m
DeFi TVL / AUM1.82%
Confirmed attestations36 / 36
Primary accessPermissionless (36)
Totals for filtered assets
36
$86.95m
$609.32m
$11.07m
1
Assets Rankings
| Name | Marketcap | DeFi | Flows | |||||
|---|---|---|---|---|---|---|---|---|
| bStocks36 assets | $86.95m | $609.32m | +5.26% | $11.07m | 12.73% | +1.06% | ||
About bStocks
bStocks are tokenized certificates over selected U.S. stocks and ETFs, issued by BTech Holdings Ltd, a special purpose vehicle incorporated in the Abu Dhabi Global Market (ADGM) and part of the Binance group. The product launched on Binance in June 2026 after the ADGM Financial Services Regulatory Authority approved the issuer's prospectuses; each bStock is a BEP-20 token on BNB Chain backed 1:1 by the underlying share held with custodian Alpaca. Tokens can be held on Binance, withdrawn to self-custody and used in supported DeFi applications, but the offer is made only in the ADGM, U.S. persons are prohibited under Regulation S, and transfer restrictions with freeze capability are embedded in the token contract.
Profile
- Founded
- 2026
- Headquarters
- Abu Dhabi, United Arab Emirates
- Primary chain
- BSC
- Oracle
- Binance Proof of Collateral (aggregate bStocks family dashboard); BTECH segregated custody attestation under ADGM FSRA rules
Economics & revenue
Mint fee0 bps
Redemption fee0 bps
Float incomeNo
Revenue confidenceIssuer-Disclosed
Fees last verified2026-07-20
Attestations & milestones
- 2026-06bStocks Conversion Terms v1.0 effective (Jun 11)
- 2026-06admitted to trading on Binance (Jun 12) with first five listings (CRCLB, MUB, NVDAB, SNDKB, TSLAB) after FSRA prospectus approval
- 2026-07line-up expanded to 36 tokenized stocks and ETFs
Revenue methodology & documents
Revenue model: Hybrid - zero-fee 1:1 mint/redeem conversion; revenue from trading fees and embedded spread/FX on the underlying shares leg (Nest Trading) and Binance exchange trading fees
Verification method: Binance official PR (2026-06-12) and the bStocks Conversion Product Terms PDF on binance.com
Conversion Terms state Nest Trading charges no fee for share-to-token or token-to-share conversion; fees, embedded spreads and FX charges apply on the securities trading leg per the Securities Trading Fee Schedule. Dividends and corporate actions pass through to holders (subject to U.S. withholding tax).
Issuer registry, regulation & leadership
Founders and leadership
Richard Teng (Co-CEO, Binance); no dedicated BTech Holdings leadership disclosed
Regulatory status
Issuer prospectuses approved by ADGM Financial Services Regulatory Authority (FSRA); bStocks classified as Certificates under paragraph 92, Schedule 1 of ADGM FSMR. Distribution via Nest Trading Limited (FSRA FSP 260000), Nest Exchange Limited (Recognition Order 0072) and Nest Clearing and Custody Limited. Not registered under the U.S. Securities Act; offered outside the U.S. under Regulation S.
Entity structure
Issuer: BTech Holdings Ltd (SPV, ADGM). Manager/tokenizer: BTech Services Limited (ADGM). Conversion counterparty and redemption agent: Nest Trading Limited (ADGM, Abu Dhabi). Exchange: Nest Exchange Limited; clearing/CSD: Nest Clearing and Custody Limited (both ADGM, Binance group). Underlying U.S. shares custodied with Alpaca in an omnibus account.