Venus lists Tesla, Nvidia and SpaceX bStocks as collateral

Venus Protocol added Binance’s BEP-20 bStocks tied to Tesla (TSLAB), Nvidia (NVDAB) and SpaceX (SPCXB) to its BNB Chain Core Pool on June 20. The tokens can be supplied as collateral but cannot be used to borrow while borrowing is paused and borrow caps are set to zero in the governance proposal.

The markets launched in a supply-only configuration. Collateral factors are 60% for TSLAB and NVDAB and 50% for SPCXB. The proposal also sets supply caps and an oracle-protection trigger as part of the market parameters.

Binance describes bStocks as 1:1-backed tokenized securities issued by BTech Holdings Limited and available to eligible users in permitted jurisdictions. Binance listed spot pairs for TSLAB and NVDAB on June 11 and added SPCXB shortly afterward.

PancakeSwap provides decentralized trading for the bStocks and Trust Wallet supports custody and transfers. Those integrations allow the tokens to move from exchange listings into decentralized exchanges, wallets and lending interfaces on BNB Chain.

The protocol opened the collateral framework first so it can monitor whether sufficient supply appears, whether price feeds remain reliable and whether liquidation paths are predictable before enabling borrowing. The proposal indicates stablecoins such as USDT and USDC are the most likely borrow assets if borrowing is later turned on.

Tokenized stocks differ from crypto-native assets in several ways that affect risk management. Underlying equities trade on traditional markets with set hours, issuers may impose holder restrictions, and pricing often relies on off-chain data. Those factors affect oracle design, supply limits and liquidation procedures.

Venus currently holds roughly $1.04 billion in total value locked on BNB Chain. The listing places stock-linked tokens inside a sizable DeFi venue where supply and borrowing behavior can be observed under the protocol’s guardrails. Regulatory treatment of tokenized securities remains unresolved.

Next developments to watch include whether Venus enables borrowing against TSLAB, NVDAB and SPCXB, whether collateral supply grows without large incentives, and whether oracles and liquidation mechanisms perform during periods when the underlying equity markets are closed or move sharply.