# Tokens Tracking Circle Stock Span Binance, Ondo and xStocks

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/36615
Published: 2026-10-21T11:41:15.000Z
Updated: 2026-10-21T11:41:15.000Z
Section: Investing

> The third-party products use different certificates, trading schedules and collateral rules. Their terms exclude offerings in the United States and to U.S. persons.

Tokens tied to Circle Internet Group shares give eligible non-U.S. investors blockchain-based exposure to its stock price, but their ownership, redemption and collateral rules differ.

Circle, the issuer of USD Coin (USDC), trades on the New York Stock Exchange as CRCL. Binance’s bStocks product uses the symbol CRCLB, Ondo Finance uses CRCLon, and xStocks uses CRCLx. The tokens are issued by third parties, not Circle.

The products are not offered in the United States or to U.S. persons, including those outside the country, subject to each product’s terms. Their availability through platforms serving international users does not change those restrictions.

Binance opened CRCLB trading on June 11, 2026, at 2 p.m. ET (18:00 UTC). CRCLB is a certificate backed one-for-one by Circle shares held with a custodian. Holding the certificate does not give an investor direct ownership of the shares.

On July 3, Binance added CRCLB as eligible collateral for Cross Margin, Portfolio Margin and Portfolio Margin Pro. Those uses are limited to eligible VIP 3 or higher users in permitted jurisdictions. CRCLB can serve as eligible margin collateral, but the tokens themselves cannot currently be borrowed.

Ondo’s CRCLon has a different redemption schedule. Eligible users can mint and redeem the token 24 hours a day, five days a week, subject to interruptions. That stated window concerns creating and redeeming CRCLon, rather than a claim to direct ownership of Circle shares.

xStocks’ CRCLx is a tracker certificate tied to Circle’s share price and backed one-for-one by underlying equity. It does not give holders shareholder voting rights. CRCLx can trade on secondary markets around the clock, while issuance and redemption normally follow U.S. market business days.

The distinction between trading and redemption matters across these products: a token may change hands outside stock-market hours even when its issuer does not create or redeem it at that time. Investors also face different rights from those attached to directly held Circle shares.