BNB Chain ended the third quarter of 2026 as the leading blockchain for tokenized-equity trading, supply and holder count, according to Blockworks’ Q3 token-holder report. The network processed approximately $25.6 billion in tokenized-equity transactions during the quarter, roughly eleven times the $2.4 billion recorded in Q2. Tokenized-equity supply reached $1.13 billion, up from $560 million, while holders totaled about 1.8 million at the end of September. BNB Chain held about 39% of the $2.89 billion tracked cross-chain tokenized-equity supply, and bStocks accounted for $810 million of the network’s total.
The surge followed the June 11 launch of bStocks, making Q3 its first full reporting period. Decentralized exchange venues accounted for $24.4 billion of volume, with Ondo Global Markets contributing another $1.2 billion. Blockworks compared $45.8 billion in tokenized-asset DEX trading across tracked networks, excluding memecoin pairs. BNB Chain took more than half of that total, ahead of Robinhood Chain’s $10.2 billion and Solana’s $6.4 billion. Activity peaked on July 26, when tokenized-asset DEX trading hit $1.2 billion in a single day. The tokenized Invesco QQQ ETF product, QQQB, generated around 80% of bStocks DEX volume, with SPCXB, SPYB and NVDAB also traded. From mid-August, weekly activity generally ranged between $600 million and $1.1 billion, with one September week reaching $2.1 billion.
The network’s real economic value climbed 54% to $54.2 million, consisting of $49.1 million in transaction fees and $5.1 million in payments associated with maximal extractable value. Blockworks calculated token-holder net income at $45.1 million, up 57% quarter-over-quarter. BNB Smart Chain processed 1.51 billion transactions, a 7.5% increase, while average transaction fees rose to $0.032. However, daily active addresses fell 14% to 2.10 million. The Pasteur hard fork activated on August 25, and the BidBlock V2 system subsequently produced about 98% of blocks, averaging 28% more gas per block. Lending deposits grew 42% to $3.57 billion, with outstanding borrowing up 33% to $940 million. Tokenized equities used in lending markets rose from $6 million to $62 million, although they represented less than 2% of total deposits. Stablecoin supply declined 4.6% to $13.22 billion, largely because of lower USD1 balances. Non-stablecoin real-world asset supply increased 24% to $4.96 billion, including $3.77 billion in tokenized Treasuries.
BNB’s supply reduction continued after the quarter. The 37th quarterly token burn removed approximately 1.646 million BNB on October 19, worth about $1.2 billion at the time. BNB Chain said remaining supply stood near 131.51 million BNB, with the network still targeting 100 million through quarterly auto-burns and BEP-95 transaction-fee burns.
In a separate Blockcast interview, Bitget Wallet COO Alvin Kan and Morph head of ecosystem Renna Ba said tokenised stocks have moved beyond earlier synthetic products. Kan described most tokenised stocks as a one-to-one claim on underlying shares, backed by company holdings. He attributed adoption to trusted stablecoins, lower block times and gas costs, and shifting regulatory attitudes. Voting rights remain unresolved, with Kan saying issuers and the SEC still need to settle whether the token is legally a share. Trading remained concentrated in familiar tickers such as Tesla, Nvidia and SPY, while leveraged ETFs and crypto-linked stocks like Coinbase ranked higher than in traditional markets. The executives also addressed ‘stonks’ — memecoins paired against tokenised stocks — with Ba warning that liquidity providers face exposure to both the stock price and the meme. Kan said Bitget Wallet now allows card users to receive cashback in Tesla or Nvidia tokens, and some users obtained their first stock that way.
