BNB Chain tokenized assets expanded sharply in the third quarter, with non-stablecoin real-world asset supply on the network rising 24% quarter over quarter to $4.96 billion, according to the Blockworks Q3 Token Holder Report.
The growth matters because it positions BNB Chain as a larger venue for tokenized finance at a time when institutions are spreading activity across multiple networks. Tokenized treasuries made up $3.77 billion of the chain's RWA total, while lending, revenue and tokenized equities all climbed during the quarter, Crypto Briefing reported.
The report paints a picture of a network that spent the three-month period becoming a busier place for real-world assets. Rather than a single metric carrying the quarter, the gains showed up across supply, trading, lending and fees at the same time, according to Crypto Briefing's account of the Blockworks findings.
Tokenized equities double on BNB Chain
Supply of tokenized equities on the network grew twofold over the quarter, reaching $1.13 billion, and that was enough to make BNB Chain the largest chain for tokenized stocks among the networks covered in the Blockworks report, according to Crypto Briefing.
A single product drove much of that increase. bStocks, which went live on June 11, held $810 million of the chain's tokenized equity supply when the quarter closed, the majority of the $1.13 billion total, Crypto Briefing reported.
The concentration runs deeper than one product. Within bStocks itself, a single token drove approximately 80% of that product's decentralized exchange volume, meaning both the network's tokenized equity supply and its trading activity leaned heavily on a narrow slice of the market, according to the report.
Lending deposits and network revenue climb
Lending activity grew alongside the BNB Chain tokenized assets buildout. Deposits into lending protocols on the network increased 42% over the quarter to $3.57 billion, while borrowing expanded at a slower pace, rising 33% to $940 million by the time the quarter ended, according to the report.
Network revenue increased 54% to $54.2 million, a figure Crypto Briefing described as the number that ties the quarter together for investors tracking BNB Chain's fundamentals. The revenue gain connects the dots between the rising asset supply, the doubling of tokenized equities and the growth in lending, since each of those activity streams feeds fees back to the network.
The gap between deposit growth and borrowing growth is itself a data point. Deposits rising 42% against a 33% increase in borrowing shows capital flowing into the chain's lending markets faster than it is being drawn out, according to the figures in the report.
Ethereum's RWA share falls as rivals gain
The BNB Chain figures land as the broader RWA market shifts away from a single dominant network. Ethereum's share of the RWA sector has fallen by almost 30% over the past year, though it remains the largest network with over 40% of RWA market cap, according to a report shared Tuesday by institutional platform GSR, ZyCrypto reported.
ZyCrypto reported that Ethereum's declining share points to a maturing, diversifying on-chain economy rather than a collapse, since the network still controls a large portion of the market. The GSR report shows that, outside of Ethereum, institutions are turning to BNB Chain, Solana, Stellar and Avalanche to operate their tokenized utilities.
As global institutions assess tokenized applications and blockchain-based asset management, those four networks stand out as preferred infrastructures offering scalability, low-cost transactions, speed and trust, according to ZyCrypto. That framing places BNB Chain's quarter inside a wider rotation rather than as an isolated surge.
What BNB Chain tokenized assets mean for the network
The quarter bolsters BNB Chain's standing as a credible venue for tokenized assets, according to Crypto Briefing. The combination of a $4.96 billion RWA supply, a leading position in tokenized stocks and rising lending and revenue gives the network a broader footprint in on-chain finance than it had entering the quarter.
The composition of that footprint is worth noting. Tokenized treasuries at $3.77 billion still dwarf the $1.13 billion in tokenized equities, but the equities segment is the one that doubled, and it is the segment where BNB Chain now leads the networks Blockworks tracked, according to the report.
What the facts say comes next is a test of durability for BNB Chain tokenized assets. The quarter's gains were concentrated, with one product behind most of the tokenized equity supply and one token behind most of that product's DEX volume, so the network's ability to broaden that base will shape whether the Q3 numbers mark a plateau or a starting point, according to the figures in the report.
Conclusion
The third quarter established BNB Chain as a larger player in tokenized finance, with non-stablecoin RWA supply at $4.96 billion, tokenized equity supply doubled to $1.13 billion and network revenue up 54% to $54.2 million, according to the Blockworks report. The next concrete marker is whether the network can hold its position as the largest chain for tokenized stocks and keep building on the $3.57 billion in lending deposits it reached by quarter-end, as GSR data shows institutions continuing to spread RWA activity across BNB Chain, Solana, Stellar and Avalanche.
Frequently Asked Questions
How much did RWA supply on BNB Chain grow in Q3?
Non-stablecoin real-world asset supply on BNB Chain rose 24% quarter over quarter to $4.96 billion in Q3, according to the Blockworks Q3 Token Holder Report. Tokenized treasuries accounted for $3.77 billion of that total.
What is bStocks and how much of BNB Chain's tokenized equity supply does it represent?
bStocks is a tokenized equity product that launched on June 11. By the end of Q3 it accounted for $810 million of BNB Chain's $1.13 billion tokenized equity supply, the majority of the total, according to the Blockworks report.
Is BNB Chain the largest network for tokenized stocks?
Yes. With tokenized equity supply doubling to $1.13 billion in Q3, BNB Chain became the largest chain for tokenized stocks among the networks covered in the Blockworks report, according to Crypto Briefing.
How much revenue did BNB Chain generate in Q3?
BNB Chain's network revenue rose 54% to $54.2 million in the third quarter, a figure Crypto Briefing described as the number that ties the quarter together for investors tracking the network's fundamentals.
How much has Ethereum's share of the RWA market declined?
Ethereum's grip on the RWA sector has loosened by nearly 30% over the last twelve months, yet the network still holds the top spot with more than 40% of RWA market cap, according to a GSR report shared Tuesday, ZyCrypto reported.