Tokenized assets soar to $32B as CZ urges blockchain shift

Changpeng Zhao, founder of Binance, has called for governments worldwide to move stock markets onto blockchain networks and to launch their own national stablecoins. According to Zhao, the era of traditional finance is transitioning into a new phase rooted in on-chain structures.

Push for asset tokenization gains momentum

Zhao made these statements following meetings with public officials and financial regulators in Asia. In these sessions, the future of blockchain technology and digital assets was high on the agenda. As one of the most prominent figures in the cryptocurrency sector, Zhao previously served for years as the top executive at Binance.

Through his social media channels, Zhao argued that all nations should allow for the tokenization of equities. This would enable investors from different regions of the world to buy and sell shares more easily. Transforming company stocks into digital tokens could make investing more accessible and lower the associated costs.

Unlike traditional exchanges, blockchain-based equity trading can happen around the clock and offers greater flexibility. Such systems also alleviate the need to purchase entire expensive shares by facilitating fractional ownership. Settlement times may also be significantly reduced compared to legacy financial markets.

Mini glossary: Tokenization refers to converting traditional assets like stocks, bonds, or real estate into digital tokens on a blockchain. This method stands out for enabling fractional ownership and faster settlements.

However, no country has yet fully shifted its national stock exchange infrastructure onto blockchain. Even so, interest in tokenizing real-world assets has seen a sharp increase. According to RWA.xyz, the total value of tokenized real-world assets on public blockchains reached $32 billion by mid-2026, up from just $6 billion a year prior. Boston Consulting Group projects that the tokenization market could reach $16 trillion by 2030.

National stablecoin initiative

In addition to tokenized stocks, Zhao advocated for each government to issue its own fiat-backed stablecoin. Stablecoins are digital assets pegged to the value of the US dollar, euro, or other national currencies. Zhao believes this approach could help local currencies gain broader use in blockchain networks and digital payment platforms.

Despite these suggestions, today’s market is dominated by dollar-backed assets. Data from DefiLlama shows that nearly 99% of the roughly $315 billion global stablecoin market consists of dollar-pegged tokens. The two largest stablecoins are Tether’s USDT and USD Coin.

Still, the idea of official national stablecoins raises new questions on regulation, adoption rates, and the role of central banks. Many governments continue to study how digital currencies could be aligned with the existing financial system.

Rising public sector interest

Zhao’s recent remarks coincide with growing interest among governments in blockchain and digital assets. Zhao currently serves as a strategic adviser at the Pakistan Crypto Council, and he is also involved in consulting on a range of initiatives in Kyrgyzstan, including gold-backed stablecoin projects. Binance itself has been approved to help develop a crypto marketplace in Kazakhstan.

Growing numbers of users in emerging markets are also showing a preference for stablecoins. Binance’s co-CEO Richard Teng stated that 36% of the platform’s users in developing economies hold at least half of their assets in stablecoins. He indicated that this trend points to stablecoins becoming a more practical tool for daily payments and financial transactions.

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