Circle Internet Group (bStocks Tokenized Stock)

CRCLB is a stock token that provides economic exposure to shares of Circle Internet Group, the issuer of the USDC stablecoin, which trade on the New York Stock Exchange under the ticker CRCL. The token belongs to the product family Binance offers under the name bStocks and is issued on BNB Chain. According to Binance's bStocks page, these products are offered by Nest Trading Limited and its affiliates in Abu Dhabi Global Market (ADGM), under the supervision of the ADGM Financial Services Regulatory Authority (FSRA).

Legally, bStocks products are defined not as the shares themselves but as certificates representing certain financial instruments; each token is intended to be backed by a share held in custody. Eligible users in permitted countries can convert their shares into tokens or buy and sell the token on the spot market; the products are not offered to US persons. Dividends are not paid out separately but are reinvested within the token on the ex-dividend date. Because of the certificate structure, the token does not directly confer rights arising from share ownership, such as voting rights.

The CRCLB price mainly tracks the price of Circle shares, so Circle's business model, which is sensitive to the interest income earned on USDC reserves, along with stablecoin regulation and the interest rate environment, plays an indirect role. Token trades that take place while the US stock market is closed can diverge from the share's last price. On Lzzo.com, the CRCLB price is taken from its USDT pair on Binance and converted into dollars at Coinbase Exchange's USDT/USD rate; the chart shows this dollar series.