Binance and OKX explore tokenized U.S. stocks, expanding crypto-based equity exposure while regulators assess risks and market impact.
Global crypto exchanges are intensifying efforts to tokenize U.S. stocks, signaling a major market shift. Notably, Binance and OKX are considering products where they would offer crypto-based exposure to U.S. equities. As such, this trend shows rising demand for blockchain linked financial instruments in the world.
Binance and OKX Push Into Tokenized Equity Markets
According to The Information, the major exchanges are racing to launch U.S. stock-tracking tokens. Binance and OKX desire to give worldwide people the indirect exposure to equities. As a result, these offerings can constitute a parallel market that operates largely outside the regulatory oversight of the United States.
New: Binance and OKX are exploring introducing tokenized stocks.
Other exchanges including Kraken and Bitget are already gaining traction with their stock token offerings.
The two biggest stock token providers are Ondo Finance and Kraken's xStocks
I looked into the latest… pic.twitter.com/mwv3jZMfhN
— Yueqi Yang (@Yueqi_Yang) January 23, 2026
Currently, infrastructural providers such as Ondo Finance and Kraken’s xStocks offer tokenized stock issuance. Meanwhile, there are already exchanges such as Kraken and Bitget that offer such products. Additionally, decentralized platforms like Jupiter are gaining traction from global traders.
Binance is reportedly considering to bring back stock tokens, which it had stopped in 2021. At the time, the exchange launched tokens associated with Tesla, Coinbase, Strategy, Microsoft and Apple. However, regulatory attention rapidly increased in many different jurisdictions.
The U.K. Financial Conduct Authority and Germany’s BaFin wondered if those tokens violated securities laws. For that reason, Binance shut down the service by July 2021. Despite this history, new interest is due to changes in market structure and better infrastructure.
OKX is also looking at tokenized stock offerings, according to its global managing partner Haider Rafique. He added that tokenized equities are in line with attempts to bridge the traditional finance and crypto markets. Therefore, infrastructure development and institutional partnerships continue to be the core of the strategy.
Tokenized Stocks Grow Despite Regulatory Barriers
Importantly, there are no official launch dates announced by Binance or OKX. Regulatory uncertainty in the region, particularly in the U.S., continues to pose a significant challenge. As a result, compliance concerns may slow down or restrict more wide-spread adoption.
Despite the challenges, however, the market is expanding steadily. The combined value of tokenized stocks in circulation amounted to $915 million by the end of January 2026. This growth attests to continuing interest from investors despite legal uncertainties.
Further, traditional financial institutions are also considering tokenization. Both the New York Stock Exchange and Nasdaq have applied for regulatory approval of tokenized stock initiatives. Consequently, competition between crypto-native and traditional players is on the rise.
Analysts say tokenized stocks may help make them more accessible to international investors. Through the use of blockchain tokens, users can obtain exposure to prices without actually owning a part of the equity. However, such a structure begs questions regarding investor protection and transparency.
At the same time exchanges are emphasizing on infrastructure and compliance improvements. Binance termed tokenized equities as a natural move toward bridging traditional finance and crypto. Therefore, partnerships with regulated institutions are expected to increase.
Looking forward, tokenized stocks could have an impact on wider digital asset markets, such as liquidity dynamics. If regulatory clarity improves then trading volumes could increase significantly. Otherwise, incoherent adoption may continue across jurisdictions.
At the end of the day, the race between Binance and OKX is indicative of a larger shift in the global financial landscape. While regulatory risks still loom large, there is a continuous increase in market momentum. Thus, tokenized equities are likely to stay a point of interest for both the crypto and conventional monetary sectors.