Tokenized exposure to Circle Internet Group is estimated at $314 million to $345 million as of early October 2026, representing approximately 1.7% of the company’s equity market cap valued at $20-21 billion. Three external platforms lead this market: Binance bStocks (CRCLb) with $110-119 million, Ondo Finance (CRCLon) with $98 million, and Backed Finance xStocks (CRCLx). The broader tokenized equities market has reached a record $3.1 billion to $4.87 billion in assets under management, with onchain trading volumes exceeding $15 billion. These products allow non-US investors to gain exposure to US stocks through crypto wallets without becoming traditional shareholders. Circle launched its Arc network on September 16, 2026, to support asset tokenization, but the tokenized CRCL exposure primarily comes from third-party platforms rather than Circle itself.
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