The money was put on the stock on the chain, and it was really win thoroughly. It's not slogans, it's data that rubs opponents to the ground. On June 11, 2026, bStocks was launched. At that time, monetization of stocks was still a race for Ondo and xStocks to take the lead. Binance has been in for two months, directly tearing apart the landscape. First, let's take a look at the speed: On the first day of launch, the AUM was approximately 5.6 million US dollars 15 days to reach $100 million, 18 times In less than 7 weeks, the market value exceeded 500 million US dollars, and the global tokenized stock market share increased from 0 to about 27% By early September, the outstanding value was approximately $678 million, and the RWA side of the platform had approached the level of $750 million Accumulated trading volume exceeds $30 billion in less than 90 days What's even more ruthless is the trading volume, not the book size. In July, the on chain DEX transactions amounted to approximately 7.4 billion US dollars, accounting for 85% of the DEX transactions of tokenized stocks for that month. Even on weekends, transactions can reach billions of dollars. The US stock market is closed, but it is still turning here. In the early stages, nearly half of the transactions occurred outside the regular trading hours of the US stock market, with emerging markets contributing more than half of the traffic and over 80% being fragmented stock trading. This is the key: Binance is not "issuing another tokenized stock", but rather bringing distribution, liquidity, and user habits all at once. Later, the entire track changed from 'who releases first' to 'who can sell, who can make people use it every day'. Binance Research itself has written very bluntly: issuance is no longer the bottleneck, distribution is. By September, bStocks and Robinhood related products had captured nearly 90% of the issuer transactions tracked. BNB Chain has also become one of the largest home markets for tokenized stocks, with its listed value accounting for about one-third of the entire market at one point. The product strategy is also more complete than pure RWA projects: Real stock channel: Over 7000 US stocks/ETFs, fragmented stocks, low threshold, settled with encrypted assets. BStocks: 1:1 collateralized, 24/7, withdrawable, able to enter DeFi, automatic dividend processing. Pre IPO perpetual: Trading valuation expectations before going public. Collateral Expansion: Qualified users can now use bStocks as collateral, without having to sell their funds before opening contracts. In one account, there is a closed loop from pre-market expectations, to real stocks, and then to on chain combinable assets. Others are still comparing 'how many tickets have been sent', while Binance is already comparing 'whether users are still trading after work, whether they can be used as collateral, and whether they can play in their own wallets'. In the summer of 2026, Binance used traffic, depth, and 24-hour trading to turn the latecomer advantage into a home advantage. On chain stocks used to be narratives. Now it's about transaction volume, market share, and user behavior. These three things, Binance is currently the most full. @cz_binance @heyibinance @binancezh @BinanceWallet