Binance now lists two very different stock products, and the names are easy to confuse. bStocks are tokenized certificates; Binance Stocks are real shares. This guide is about bStocks: what they are, what backs them, and what you actually own when you buy one.
What a bStock actually is
A bStock is a tokenized stock certificate issued as a BEP-20 token on BNB Smart Chain. It launched in June 2026, is regulated under Abu Dhabi Global Market (ADGM), and is backed 1:1 by the real underlying equity held by the issuer. The token tracks the share's price and reflects corporate actions, but it is not legally a share — you are not on the company's register and you hold no direct voting rights.
This is a different thing from the 2021 'Binance Stock Tokens', which were discontinued. bStocks are a new, separately regulated product, so older write-ups about Binance stock tokens do not describe what is on offer today.
What backs it, and what that means for your risk
Each bStock is meant to be backed 1:1 by the underlying share. That backing is the whole basis of the token's value, so your exposure depends on the issuer's solvency and the integrity of the custody arrangement behind the certificate. If the backing or the issuer fails, the token does not have the investor-compensation protections that a real share in a regulated brokerage account would.
Dividends and splits are handled at the token level rather than paid to you as a shareholder. In practice that means corporate actions are reflected in the token, but you should not assume a traditional cash dividend lands in your account.
bStocks vs Binance Stocks
Binance Stocks — note the different name — is a separate product offering real US equities to non-US users through broker-dealer Nest Trading, with Alpaca clearing. There you own the actual share and receive dividends. bStocks, by contrast, give you a tokenized certificate. If direct ownership matters to you, that distinction is the entire point.
Who can use bStocks
bStocks are aimed at non-US users and are subject to regional eligibility, so availability depends on where you are. Always confirm current access and the exact terms on Binance before depositing, because product availability in this space changes quickly.