BNB Chain has emerged as the leading blockchain for tokenized-equity trading in the third quarter of 2026, recording approximately $25.6 billion in transactions and $1.13 billion in tokenized stock supply.
Summary
- BNB Chain recorded $25.6 billion in tokenized-equity trading during Q3 2026, roughly eleven times the previous quarter.
- Blockworks ranked BNB Chain first among tracked networks for tokenized-equity trading, supply and holder count.
- Tokenized-equity supply reached $1.13 billion, while the network recorded approximately 1.8 million holders at quarter-end.
- Network revenue rose 54% to $54.2 million, although average daily active addresses declined 14%.
- Lending deposits grew 42% to $3.57 billion, with tokenized equities accounting for less than 2%.
Meanwhile, the network ranked first among tracked chains for tokenized-equity trading volume, outstanding supply and holder count, according to the Blockworks Q3 token-holder report. The report recorded growth in lending deposits and network revenue, although some user activity indicators declined.
BNB Chain leads tokenized equity trading across tracked networks
Tokenized-equity trading reached $25.6 billion during Q3, compared with $2.4 billion in the preceding quarter. Decentralized exchange venues accounted for $24.4 billion, while Ondo Global Markets contributed another $1.2 billion.
Blockworks compared $45.8 billion in tokenized-asset DEX trading across its tracked networks, excluding pairs involving memecoins. Within that dataset, BNB Chain held more than half the volume, ahead of Robinhood Chain’s $10.2 billion and Solana’s $6.4 billion.
The trading surge followed bStocks’ June 11 launch, making Q3 its first complete reporting quarter. Activity peaked on July 26, when tokenized-asset DEX trading reached $1.2 billion in a single day.
Much of that activity centered on QQQB, the tokenized Invesco QQQ ETF product, which generated approximately 80% of bStocks’ DEX volume. Other traded products included SPCXB, SPYB and NVDAB, while the Native trading venue handled approximately 36% of bStocks volume.
Although trading accelerated, volumes moderated after the July peak. From mid-August, weekly activity generally ranged between $600 million and $1.1 billion, with one week in September reaching $2.1 billion.
Tokenized stock supply doubles to $1.13 billion
By September 30, BNB Chain held approximately $1.13 billion in tokenized public equities, compared with $560 million at the end of Q2. That represented 39% of the $2.89 billion supply tracked across blockchains.
The report placed the network’s tokenized-equity holder count at approximately 1.8 million, equivalent to 38% of its tracked cross-chain total. bStocks accounted for $810 million of the network’s tokenized-equity supply.
BNB Chain’s position comes during growing competition among blockchain networks supporting tokenized financial products. A recent tokenized-equities market report found that DEX activity had spread across multiple networks as issuers expanded their product offerings.
Robinhood Chain’s DeFi total value locked stood near $1.14 billion on October 22, according to DefiLlama. However, that figure measures deposits across decentralized finance applications and cannot be directly compared with BNB Chain’s tokenized-equity supply or quarterly trading volume.
BNB Chain revenue climbs 54% despite lower active addresses
Network real economic value, or REV, reached $54.2 million during Q3, rising 54% from $35.2 million in Q2. The total consisted 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% from the preceding quarter. Under its methodology, the measure combines delegator rewards and BNB burned through the BEP-95 mechanism.
BNB Smart Chain processed 1.51 billion transactions, an increase of 7.5%, while average transaction fees climbed to $0.032. Daily active addresses, however, declined 14% to 2.10 million, indicating that transaction growth did not coincide with growth in active addresses.
The Pasteur hard fork activated on August 25, changing the network’s block-building process. Its BidBlock V2 system subsequently produced approximately 98% of blocks and averaged 28% more gas per block than the previous approach.
Lending deposits rise as BNB supply continues falling
Lending deposits reached $3.57 billion at quarter-end, growing 42% from $2.51 billion, while outstanding borrowing climbed 33% to $940 million. Tokenized equities used in lending markets grew from $6 million to $62 million, although they represented less than 2% of total deposits.
Meanwhile, 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 quarterly supply reductions continued after the reporting period. The network’s 37th quarterly token burn removed approximately 1.646 million BNB on October 19, worth around $1.2 billion at the time.
In an October 21 update, BNB Chain said the remaining supply stood near 131.51 million BNB. The network continues using quarterly auto-burns and BEP-95 transaction-fee burns toward its long-term target of 100 million BNB.
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