Binance founder Changpeng “CZ” Zhao said IPOs will eventually move on-chain as tokenized stock trading expands and U.S. regulators propose rules that account for blockchain-based securities.
Key Points:
- CZ said IPOs will move on-chain as Binance bStocks cumulative trading volume topped $30B in about three months.
- The SEC proposed transfer-agent rule changes that explicitly account for blockchain technology in securities offerings and share transfers.
- Securitize and Cantor Fitzgerald are building infrastructure for on-chain IPOs while keeping offerings inside existing securities rules.
CZ IPO Forecast
Zhao wrote on X Tuesday, Sept. 8, that “IPOs will move on-chain,” making the prediction as Binance’s bStocks product passed $30 billion in cumulative trading volume about three months after its Jun. launch.
He gave no timeline or named issuer. His remark instead pointed to a broader shift in capital-market infrastructure as crypto platforms and regulated securities firms build products tied to public equities.
Binance already offers pre-IPO perpetual contracts that let users take positions on a company’s valuation before its shares begin trading on a public exchange. Those contracts are not IPOs.
The U.S. Securities and Exchange Commission proposed transfer-agent rule changes on Sept. 1 that would account for blockchain technology in securities offerings, ownership records and share transfers. The proposal would modernize rules that have not received a substantive overhaul in decades, while keeping transfer agents inside the existing federal securities framework.
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Securitize Tokenization Growth
Securitize and Cantor Fitzgerald announced a Jul. partnership designed to let public companies conduct IPOs and follow-on offerings with blockchain infrastructure while using the established capital-markets framework.
Securitize then provided a working example by listing on the New York Stock Exchange and offering issuer-sponsored tokenized shares on Solana (SOL) and Avalanche (AVAX) to eligible U.S. investors. The shares remained regulated securities.
SEC Chairman Paul Atkins said the transfer-agent proposal is meant to reflect current operations, including blockchain use in securities offerings and share transfers. It does not erase securities-law requirements.
Supporters say on-chain securities could widen access, shorten settlement times and allow trading outside conventional exchange hours, although eligibility and legal rights still depend on each product’s structure. Ondo Finance has expanded tokenized U.S. stocks and ETFs across multiple blockchains, including BNB Chain and Solana. The infrastructure is spreading.
During 2026, tokenized equities moved from smaller experiments toward larger commercial platforms, giving Zhao’s forecast a market backdrop that did not exist at the same scale a year earlier.
Binance launched bStocks in Jun. Securitize brought its own listed shares on-chain in Jul., and the SEC’s Sept. 1 proposal placed blockchain recordkeeping inside a broader effort to modernize the machinery behind U.S. securities markets.
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