Return to Tokenized Equities
Binance, the world’s largest cryptocurrency exchange by trading volume, has reentered the tokenized equities market nearly five years after discontinuing a similar service amid regulatory scrutiny.
The exchange announced a partnership with Ondo Finance to list ten tokenized U.S. stocks, exchange-traded funds and commodity-linked products on its Binance Alpha platform. The move signals a renewed push into blockchain-based representations of traditional financial assets.
Binance Alpha operates within Binance Wallet and allows users to trade early-stage or alternative digital assets before they appear on the centralized spot exchange. The newly listed tokens include blockchain-based versions of shares such as Apple, Google, Tesla and Nvidia, as well as the Invesco QQQ ETF, which tracks the Nasdaq index.
The tokenized equities are not available to U.S.-based users.
Background and Regulatory History
Binance previously launched tokenized stocks in April 2021, beginning with Tesla and later adding companies such as Coinbase, Microsoft and Apple. The program was halted following regulatory concerns raised by authorities including the U.K.’s Financial Conduct Authority and Germany’s BaFin.
The current relaunch follows recent statements from Binance indicating it was evaluating a renewed strategy in tokenized securities. Listing the Ondo-issued tokens represents the execution of that plan.
Growing Market for Tokenized Assets
Tokenized equities have gained traction across both crypto-native platforms and traditional finance institutions. The total market value of tokenized stocks is approaching $1 billion, with Ondo Finance reporting over $550 million in locked value and $11 billion in cumulative trading volume since September 2025.
Other crypto exchanges including Kraken, Bybit and Gemini have introduced their own tokenized equity offerings. Brokerage platforms such as Robinhood have also expanded into blockchain-based securities. Meanwhile, established exchanges such as Nasdaq and the New York Stock Exchange have outlined plans to explore stock token trading.
Access and DeFi Integration
Advocates argue that tokenized stocks can broaden access to U.S. equities, particularly for retail investors in regions where traditional brokerage accounts are less accessible. Because these assets exist on blockchain networks, they may also be used as collateral within decentralized finance ecosystems.
As tokenization gains momentum, the sector reflects a broader convergence between digital asset infrastructure and conventional capital markets, with exchanges positioning themselves to capture demand from both retail and institutional participants.