bStocks are tokenized stock certificates issued by BTech Holdings Limited, a Binance group affiliate: BEP-20 tokens on BNB Smart Chain, each backed 1:1 by a real US share held at a regulated custodian. Live since 11 June 2026, a bStock tracks the stock's price and reinvests its dividends — but it is legally not a share. Binance's own offering documents say so directly: bStocks are not stocks or shares, and holding one does not let you directly own a share in the underlying company.
That is the honest headline. Everything worth knowing after it is about mechanics — how the certificate is regulated, what happens to your dividend, whether you can hold the token yourself, and who is allowed to buy it at all.
What a bStock actually is, legally
The precise term matters, and most write-ups skip it. A bStock is a “certificate representing certain financial instruments” under paragraph 92, Schedule 1 to the Financial Services and Markets Regulations of the Abu Dhabi Global Market. The ADGM's Financial Services Regulatory Authority approved the issuer's prospectuses on 11 June 2026 and the tokens were admitted to the ADGM Official List — the first tokenized securities to get there — with trading on Nest Exchange Limited, a Recognised Investment Exchange.
The nuance is that being a regulated security and being a shareare different things. The regulatory wrapper is real and unusually solid for this product category. It still does not put you on the company's register. Every shareholder right — voting, proxy statements, standing in a corporate action — belongs to whoever legally holds the share, which is the issuer's structure, not you. bStocks also carry no affiliation with the company whose ticker they track.
Dividends: reinvested, not paid
This is where bStocks differ most from what people assume, and where the detail is genuinely useful. Dividends are not dropped and they are not paid out. On the ex-date, the net dividend — after the 30% US withholding tax — goes straight back into your position. Holders in the Binance Spot wallet receive additional tokens. Holders who have withdrawn on-chain get the same value through a multiplier: the tokens use the BEP-677 standard, so the contract updates a display multiplier and wallets show a larger balance without any transfer taking place. Stock splits are handled the same way — a 2-for-1 simply doubles the displayed balance.
A concrete example: Apple's $0.27 per-share dividend, record date 10 August 2026, reached AAPLB holders as reinvestment rather than cash. So the correct mental model is total-return exposure with automatic reinvestment. If you were counting on dividend income you can spend, this product does not do that.
What you get — and what you don't
What buying a bStock gives you:
- Price exposure to the underlying stock, backed 1:1 at a regulated custodian
- Dividends reinvested automatically; splits reflected on-chain
- 24/7 trading, fractional sizes from around $5, no conversion or custody fee
- Real self-custody — withdraw to a BNB Smart Chain wallet, use in BSC DeFi
- Free 1:1 conversion into the actual share on Binance, and back
What it does not give you:
- Legal ownership of the share — you are not on the register
- Voting rights or any shareholder standing
- A cash dividend you can withdraw as income
- The investor-compensation protections of a regulated brokerage account
Where the risk sits
The 1:1 backing is the entire basis of the token's value, so it is also where the risk concentrates: the issuer's solvency and the integrity of the custody holding the underlying shares. The ADGM framework, the approved prospectus and the daily proof-of-collateral reporting all narrow that risk meaningfully compared with an unbacked or offshore-opaque token. They do not eliminate it, and they do not substitute for a compensation scheme. That is the honest trade at the heart of every tokenized stock, bStocks included — and it cuts both ways, because the same structure is what makes 24/7 fractional access possible at all.
The line-up, and the “B” suffix
bStocks launched with five names — Circle (CRCLB), Micron (MUB), NVIDIA (NVDAB), SanDisk (SNDKB) and Tesla (TSLAB) — and expanded in batches from there, passing 46 listings by late July 2026 and crossing 50 in August. The roster now spans large-cap tech, semiconductors, financials and ETFs such as QQQB and SMHB, plus SPCXB for SpaceX following its June 2026 Nasdaq debut. New batches arrive every week or two, so any published list — including this one — is a snapshot; the live roster lives on the official product site, bstocks.finance, and in the Binance app.
The naming rule is worth committing to memory, because it identifies the issuer instantly. bStocks append a B to the ticker (TSLAB, NVDAB, AAPLB). xStocks append an X(TSLAX, NVDAX). Ondo's tokens append on (TSLAon). Same underlying company, three issuers, three legal structures.
bStocks vs Binance Stocks vs xStocks
The comparison searchers actually need is three-way: Binance's two current stock products against each other, and bStocks against Kraken's xStocks — the other major 1:1-backed tokenized stock.
| bStocks | Binance Stocks | Kraken xStocks | |
|---|---|---|---|
| What you own | ADGM Certificate (BEP-20 token) | The actual US share | Tokenized stock (Solana SPL) |
| Legally a share? | No | Yes — beneficial ownership | No |
| Issuer | BTech Holdings (ADGM-regulated) | Nest Trading, Alpaca clearing | Backed Finance (Switzerland) |
| Dividends | Auto-reinvested on-chain, net of 30% US withholding | Paid to you in cash as owner | Rebasing — token balance increases |
| Ticker suffix | B — TSLAB | The real ticker — TSLA | X — TSLAX |
| Self-custody | Yes — BNB Smart Chain wallets, BSC DeFi | No — shares sit with the broker | Yes — permissionless SPL |
| Convert to the real share? | Yes — 1:1, no fee, both ways | You already hold it | Redemption via the issuer |
| Trading hours | 24/7 | Market hours (spot equity) | 24/7 |
The short version: if direct ownership and cash dividends are the point, that is Binance Stocks, not bStocks. If you want the tokenized model specifically, bStocks and xStocks are structurally similar — the real separators are the dividend mechanic, the chain, and whether you can convert into the share itself. We compare them line by line in Kraken xStocks vs Binance bStocks.
Who can use bStocks
Eligibility is the first thing to check, not the last. bStocks are offered through the approved ADGM prospectus and not offered in any other jurisdiction — available only to eligible users in permitted jurisdictions, on a secondary-market basis. US persons are excluded outright, and reporting at launch indicated UK and European persons are excluded as well. Because those lists change, confirm current access and terms in the Binance app before depositing. The wider legal picture — why these products geo-block, and what “regulated” does and does not mean — is covered in our guide to tokenized-stock legality.
How to start, and what to check first
If the certificate-not-share trade suits you, the process is unglamorous: confirm eligibility in your region, check the current line-up and live fee terms, and size positions knowing your counterparty is the issuing structure rather than a stock exchange. Our Binance bStocks hub keeps the key facts, pros and cons in one place.
Check bStocks on BinanceThis is general information, not investment advice. Tokenized stocks carry issuer, custody and market risk, and product terms change — verify availability and conditions for your own jurisdiction before acting.