Major crypto exchanges Binance and OKX are reportedly exploring the reintroduction of tokenized US stocks.
The move marks a strategic pivot to capture traditional finance (TradFi) yields amid stagnant crypto trading volumes, pushing platforms toward diversification into real-world assets (RWAs).
This move revives a product Binance tested and abandoned in 2021 due to regulatory hurdles. Nevertheless, it would position the exchanges to compete in a fast-growing but still nascent tokenized equities market.
In April 2021, Binance launched stock tokens for major names like Tesla, Microsoft, and Apple, issued by German broker CM-Equity AG with Binance handling trading.
The service was discontinued in July 2021 under pressure from regulators, including Germany's BaFin and the UK's FCA. Regulators viewed the products as unlicensed securities offerings lacking proper prospectuses.
Binance cited a shift in commercial focus at the time. However, recent reports from The Information indicate Binance is now considering a relaunch for non-US users to sidestep SEC oversight, creating a parallel 24/7 market.
Reportedly, OKX is also weighing similar offerings as part of the exchange’s RWA expansion. No official confirmations have emerged from either exchange, and details on issuers, exact listings, or timelines remain limited.
Citing a Binance spokesperson, the report described exploring tokenized equities as a "natural next step" in bridging TradFi and crypto.
Why Crypto Exchanges Want US Equities Now
Crypto markets have experienced persistent stagnation in trading volume in 2026, prompting exchanges to seek new revenue streams.
Analysts also note that Crypto markets remain largely dormant in January, with volatility and trading volume pinned near December’s graveyard lows.
This is not calm consolidation but a liquidity trap, where thin order books amplify risk and a single poor execution can cascade into outsized losses for overexposed traders.