Kanzhun Tokenized Stock (Ondo) PriceBZON

What is Kanzhun Tokenized Stock (Ondo) (BZON)?

Kanzhun Tokenized Stock (Ondo), trading under the ticker BZON (also styled BZon), is a tokenized stock product issued through Ondo Finance and its offering entity, Ondo Global Markets. It provides onchain economic exposure to Kanzhun Limited, a U.S.-listed instrument, allowing tokenholders to gain exposure similar to holding the underlying stock while reinvesting any dividends. The product is backed 1:1 by the corresponding underlying stock.

BZON is issued by Ondo Global Markets (BVI) Limited and is classified as a distributed tokenization sponsorship third-party product. It is available natively on Ethereum, BNB Chain, and Solana, using the ERC-20 standard on BNB Chain and Ethereum, and the token-2022 standard on Solana. The token enables non-U.S. retail and institutional users to instantly mint and redeem tokenized U.S. stocks and ETFs, 24 hours a day, five days a week, with access to traditional exchange liquidity. The product has an inception date of July 31, 2025, and was listed on CoinMarketCap on Jan. 8, 2026. It carries a CoinMarketCap ID of 39234.

This product is not issued, sponsored, endorsed, or affiliated with Kanzhun; the company name is used solely to identify the underlying reference asset.

Key Specifications & Tokenomics

• Name: Kanzhun Tokenized Stock (Ondo)
• Ticker: BZON, BZon
• Issuer: Ondo Global Markets (BVI) Limited
• Platform: Ondo
• Underlying Security: Kanzhun (Kanzhun Limited)
• Asset Class: Stocks (tokenized stock)
• Tokenization Type: Distributed Tokenization Sponsorship Third-Party
• Blockchains: Ethereum, BNB Chain, Solana
• Token Standards: ERC-20, token-2022
• Ethereum Contract Address: 0x858e985126543b5a066c4e8a5dab0249c1d683f7
• BNB Chain Contract Address: 0xc2c7fcddc37f6737ca2481ebda6b81ee279fe20c
• Solana Token Address: doPqjCxi6UkANkvMz5fSuYGEo5PGppVpTZMeB5vondo
• Total Supply: 1,307 (per CoinMarketCap)
• Circulating Supply: 1,307
• CMC ID: 39234
• Inception Date: 07/31/2025
• Management Fees: 0%
• Performance Fees: 0%
• Subscription Fees: 0%
• Redemption Fees: 0%
• Eligible Investors: Non-U.S. Investor
• Base Assets: USDC
• Subscription Time: Instant
• Redemption Time: Instant

Who created Kanzhun Tokenized Stock (Ondo)?

BZON is issued by Ondo Global Markets (BVI) Limited, a subsidiary operating within the Ondo Finance ecosystem. Ondo Finance serves as the platform behind the tokenized stock offering. The underlying security is Kanzhun Limited, a U.S.-listed instrument.

The product is structured with a range of service providers. Alpaca Securities LLC (legal identifier 0001702580) serves as traditional broker, transfer agent, and custodian; the issuer is domiciled in the British Virgin Islands. BitGo acts as the crypto custodian, while Ondo Stocks functions as the fund administrator. BPM UK Audit Ltd serves as the auditor. The issuer operates under the U.S. Securities Act Regulation S exemption, with the SEC as the regulator and the British Virgin Islands as the dispute resolution country. Additional restrictions apply.

How does Kanzhun Tokenized Stock (Ondo) work?

BZON functions as a tokenized representation of Kanzhun Limited stock. Each token is backed 1:1 by the corresponding underlying stock held through the custody and brokerage infrastructure. Non-U.S. investors can mint tokens by depositing USDC, with subscription and redemption both processed instantly. The token provides economic exposure similar to holding the underlying stock, including reinvestment of any dividends. Income generated by the underlying stock accumulates within the product rather than being distributed as a separate payout.

The token is deployed across three blockchain networks: Ethereum and BNB Chain as ERC-20 tokens, and Solana as a token-2022 asset. Supply is distributed across networks, with the majority on BNB Chain (1,396.91), followed by Ethereum (112.19) and a smaller portion on Solana (0.89), per RWA.xyz. Ondo tokenized stocks can be transferred from BNB Chain and Ethereum to Hyperliquid's HyperEVM via the Ondo Bridge, which is powered by LayerZero. This cross-chain functionality extends the reach of the token beyond its native networks.

What makes Kanzhun Tokenized Stock (Ondo) unique and valuable?

BZON offers several distinctive features within the tokenized asset landscape. It provides 24/5 minting and redemption capabilities, allowing users to access tokenized U.S. stocks with instant settlement. The zero-fee structure across management, performance, subscription, and redemption fees makes it cost-efficient for holders.

The token is backed 1:1 by the underlying Kanzhun stock, providing direct economic exposure. It is available across multiple major blockchains, including Ethereum, BNB Chain, and Solana, giving users flexibility in choosing their preferred network. The integration with Hyperliquid's HyperEVM via the Ondo Bridge, powered by LayerZero, further enhances its utility by enabling cross-chain transfers. As part of the broader Ondo tokenized stocks ecosystem, BZON contributes to the growing infrastructure for bringing traditional financial assets onchain.

What is Kanzhun Tokenized Stock (Ondo) used for?

BZON serves multiple purposes within the onchain ecosystem. Primarily, it provides economic exposure to Kanzhun Limited stock for non-U.S. investors who wish to access U.S.-listed instruments through blockchain-based tokens. Holders can mint and redeem tokens instantly using USDC, with the ability to reinvest dividends.

BZON can be bought, sold, swapped, traded across blockchains, used for prediction markets, perps, and staking on MetaMask. Perpetual futures with up to 50x leverage can amplify losses and may result in the loss of your entire position; leverage trading is not risk-free. BZON can be bought, sold, and traded on Bybit. Additionally, the token can be converted to and from other Ondo tokenized products, such as CLOAon, NTESon, TMUSon, and others, providing flexibility within the tokenized asset ecosystem.

How Is the Kanzhun Tokenized Stock (Ondo) ecosystem developing?

The BZON ecosystem is expanding through integrations with multiple platforms and services. Ondo Finance continues to develop its tokenized stock offerings, with recent developments including the expansion of tokenized stocks to Hyperliquid's HyperEVM via the Ondo Bridge, powered by LayerZero. This allows BZON and other Ondo tokenized stocks to be transferred from BNB Chain and Ethereum to HyperEVM.

Integration with MetaMask enables users to buy, sell, trade, swap, use for prediction markets, perps, and staking. BZON is tracked on CoinGecko and RWA.xyz, where holder and transfer activity can be verified. The broader Ondo tokenized stocks ecosystem includes a wide range of products such as CLOAon, NTESon, TMUSon, POWLon, VFSon, TMOon, WYFIon, Ton, KEELon, FTGCon, UNPon, SNAPon, JNJon, and CRCLon. RWA.xyz tracks BZON holder counts and transfer activity; see the asset page for current figures.

How is BZON issued and redeemed?

BZON is not a mined cryptocurrency. It is a tokenized stock product issued through Ondo Global Markets, meaning there is no mining process, proof-of-work consensus, or staking mechanism for token issuance. Instead, tokens are minted when eligible non-U.S. investors deposit USDC as the base asset, and redeemed instantly when holders choose to convert back.

The token operates on Ethereum, BNB Chain, and Solana, leveraging the consensus mechanisms of those underlying networks for transaction validation and security. Holding BZON does not involve mining rewards or staking yields from the token itself. The value of the token is derived from the underlying Kanzhun stock, with any dividends reinvested as part of the product structure.

How to keep your Kanzhun Tokenized Stock (Ondo) safe?

Securing BZON requires standard best practices for managing blockchain-based assets. Since the token is available on Ethereum, BNB Chain, and Solana, users should use compatible wallets that support ERC-20 and token-2022 standards. Hardware wallets provide an additional layer of security for storing private keys offline.

Users should verify they are interacting with official Ondo Finance platforms and legitimate service providers when minting, redeeming, or trading BZON. The product involves a range of custodians and service providers, including BitGo as crypto custodian and Alpaca Securities as traditional broker and transfer agent. Being aware of the regulatory framework, which operates under the U.S. Securities Act Regulation S exemption for non-U.S. investors, helps users understand the compliance environment. As with any tokenized asset, users should carefully review the terms and restrictions that apply to the product before participating.

BZON, like any tokenized asset, carries risks. Its price can fluctuate with the value of the underlying stock and broader market conditions. Regulatory treatment of tokenized securities may change and could affect availability or transferability. Technical risks include smart contract vulnerabilities and the operational risks of the blockchains and bridges the token relies on. These factors should be considered before participating.