Binance's bStocks Hits $30B, Fuels CZ IPO On-Chain Forecast
Binance founder Changpeng 'CZ' Zhao believes that initial public offerings (IPOs) will eventually move on-chain, as tokenized stock trading expands and US regulators propose rules to account for blockchain-based securities.
The prediction comes as Binance's bStocks product passes $30 billion in cumulative trading volume just three months after its launch in June. This marks a significant milestone in the growth of tokenized stock trading on the platform.
CZ made his comment on X, citing the broader shift in capital-market infrastructure as crypto platforms and regulated securities firms build products tied to public equities. He noted that Binance already offers pre-IPO perpetual contracts, which allow users to take positions on a company's valuation before its shares begin trading on a public exchange.
The US Securities and Exchange Commission (SEC) has proposed transfer-agent rule changes that would explicitly account for blockchain technology in securities offerings and share transfers. The proposal aims to modernize rules that have not received a substantive overhaul in decades, while keeping transfer agents inside the existing federal securities framework.