xStocks vs Ondo vs bStocks: Three Kinds of Stock Tokens Compared
A side-by-side comparison of xStocks, Ondo tokenized stocks and Binance bStocks: issuer, naming, chains, where to trade and how dividends are handled.
Look up Apple's stock token and you may see three spellings: AAPLx, AAPLon and AAPLB. They come from three series, xStocks, Ondo and Binance bStocks. All track Apple's share price, but they differ in issuer, chains, where you can trade them and how dividends are handled. This guide compares them side by side.
The differences at a glance
| xStocks | Ondo tokenized stocks | bStocks | |
|---|---|---|---|
| Issuer | Backed | Ondo Finance | Series listed on Binance spot |
| Naming | Ticker plus x: AAPLx, TSLAx | Ticker plus on: AAPLon, SPYon | Ticker plus B: AAPLB, TSLAB |
| Coverage | US stocks and ETFs, plus some Hong Kong and UK stocks | US stocks and ETFs | Popular US stocks and ETFs |
| Chains | Solana, Ethereum, BNB Chain, Arbitrum, TON and more | Ethereum, BNB Chain, Solana | Traded within Binance |
| Venues we compare | Exchanges such as Bybit, Gate and MEXC, plus Solana swaps | Exchanges such as Gate and MEXC, plus swaps on Ethereum, BNB Chain and Solana | Binance spot |
| Dividends | Reflected as more shares per token | Reinvested into the shares each token represents | See Binance's documentation |
For the live list of stocks and venues in each series see the xStocks, Ondo and bStocks pages.
xStocks: the most chains and exchanges
xStocks are issued once and circulate widely: the same token is deployed on Solana, Ethereum, BNB Chain and other chains, and is listed on several centralized exchanges. In our data, Solana has the deepest on-chain liquidity for xStocks, with active trading in popular tokens such as AAPLx, TSLAx, NVDAx and SPYx.
xStocks reflect dividends as extra shares per token, so one token may represent, say, 1.003 shares, and on some exchanges the token trades slightly above the stock. We use the share count published by the exchange when calculating the premium and show "1 token ≈ N shares" on the page.
Ondo tokenized stocks: broad ETF coverage, Ethereum-first
Ondo Global Markets covers a large number of US stocks and ETFs, publishes its official token list on GitHub, and issues on Ethereum, BNB Chain and Solana. Ondo also reinvests dividends into the shares each token represents, so high-yield stocks and ETFs tend to trade above the share price by roughly their accumulated yield. Until the exact share count is known, we leave Ondo tokens out of the premium rankings so they don't mislead.
bStocks: the simplest option inside Binance
bStocks are Binance's spot stock tokens, bought directly with USDT, which suits people who already use Binance. For whether they can be withdrawn on-chain and how dividends are handled, refer to Binance's official documentation.
How to choose
- Start with the venues you can use: availability for mainland China, Hong Kong, Taiwan and Southeast Asia differs by venue. Choose your region at the top of the page or see the exchange comparison.
- Compare the actual price: the tokens for the same stock often differ by a few tenths of a percent. Sort by premium on the stock page to find the cheaper route.
- Check volume and liquidity: more activity usually means tighter spreads and less slippage.
- Want self-custody? Pick an on-chain token: xStocks and Ondo can be held in your own wallet. See how to buy stock tokens on Solana, and always verify the official contract address.
This guide explains concepts only and is not investment advice. Issuers may change their rules; refer to their official documentation.