TLDR
- Binance founder CZ says tokenized US stocks could expand market access for international investors.
- Zhao identified brokerage restrictions and inconvenient US trading hours as barriers for overseas investors.
- He cited countries where entire stock markets record about $50 million in daily trading volume.
- DTCC launched its tokenization service with 34 supported securities and 20 participating firms.
- US securities rules allow companies to object to tokenized listings under the temporary framework.
Changpeng Zhao, Binance’s co-founder and former chief executive, says tokenized US stocks could help investors outside America gain access to its equity markets. He said the main audience may be people who cannot open US brokerage accounts or trade during regular American market hours.
Speaking on The Rollup podcast on October 27, Zhao said, “Most people cannot even open a US brokerage account.”
Investors in Asia may also face overnight trading sessions when buying shares listed in New York.
CZ: The Real Demand for Tokenized US Stocks Comes from Outside the US
On October 27, 2026, Binance founder CZ @cz_binance said in an interview with The Rollup founder Andy @andyyy that demand for tokenized U.S. stocks primarily comes from people outside the United States who… pic.twitter.com/W3Rstwq5SE
— Wu Blockchain (@WuBlockchain) October 29, 2026
Tokenized US Stocks Could Expand Access
Tokenization creates blockchain-based versions of financial assets. These products can track shares or represent direct ownership, depending on their legal structure. Investors must still meet local rules, and a token does not automatically provide voting or dividend rights.
Financial firms are also moving into the sector. This week, DTCC launched a securities tokenization service supporting 34 assets. Twenty firms, including JPMorgan, Citi and Fidelity, have signed agreements to use the platform. The platform targets eligible institutions rather than retail investors.
Zhao described countries with populations near 100 million where stock exchanges trade around $50 million daily. He compared that amount with trading activity that a single investor in New York might handle.
He argued that blockchain-based markets could connect local companies with a wider group of buyers. The comparison did not identify specific countries, and the interview did not provide data showing how much extra trading tokenization would generate.
Company Objections Shape Stock Trading Plans
The market is also facing resistance from listed companies. An OKX–ICE tokenized stock proposal has received objections from 26 issuers, including IBM, Oracle, Intel and IonQ.
Under the US Securities and Exchange Commission’s temporary framework, eligible platforms must notify companies before offering tokenized versions of their shares. Companies can object to listings, while participating platforms remain subject to stated conditions.
Zhao also discussed putting natural resources on blockchain networks, including rare earth minerals and water-related assets. Such products would need clear ownership records and suitable markets before investors could trade them.
Separately, BNB Chain’s Jenner testnet upgrade introduced a standard designed for compliant assets, including tokenized financial products. The network has not announced a mainnet date for the upgrade.
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