🧩 Who is actually behind bStock and the underlying asset?
In the bStocks structure, there’s an important link that’s easy to miss: BTech Holdings Limited.
In simplified form, the construction can be shown as:
BTech Holdings → bStock → underlying security
BTech Holdings Limited is an affiliated company of the Binance group and the issuer of bStocks. The bStock itself is a certificate that represents an interest in the underlying security, not direct ownership of the stock.
At the same time, Binance states that each bStock is backed 1:1 by the corresponding real U.S. share, which is held by a regulated custodian. The presence of collateral can be verified via Proof of Collateral.
In other words, bStock is not just “a stock recorded on a blockchain.”
There is an issuer → tokenized certificate → underlying security → custodial collateral.
This exact structure explains why bStock can provide economic access to the movement of the underlying stock, but does not mean direct ownership of the company’s shares.
Would you like to see a detailed diagram of the entire bStock construction—from the token to the real share?
@BinanceCIS #bStocksCIS $NVDAB
In the bStocks structure, there’s an important link that’s easy to miss: BTech Holdings Limited.
In simplified form, the construction can be shown as:
BTech Holdings → bStock → underlying security
BTech Holdings Limited is an affiliated company of the Binance group and the issuer of bStocks. The bStock itself is a certificate that represents an interest in the underlying security, not direct ownership of the stock.
At the same time, Binance states that each bStock is backed 1:1 by the corresponding real U.S. share, which is held by a regulated custodian. The presence of collateral can be verified via Proof of Collateral.
In other words, bStock is not just “a stock recorded on a blockchain.”
There is an issuer → tokenized certificate → underlying security → custodial collateral.
This exact structure explains why bStock can provide economic access to the movement of the underlying stock, but does not mean direct ownership of the company’s shares.
Would you like to see a detailed diagram of the entire bStock construction—from the token to the real share?
@BinanceCIS #bStocksCIS $NVDAB