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Some countries of 100 million people trade about $50 million a day across their entire stock market. Changpeng Zhao, known as CZ, the founder of Binance, told The Rollup that this is what one trader in New York does, and that tokenizing those companies onchain would give them real liquidity.
Americans already have brokerage access, so CZ said the real demand for tokenized US equities comes from everyone else, most of whom cannot open a US brokerage account.
"Most people cannot even open a US brokerage account... the trading hours will be from like midnight to 6:00 a.m."
CZ founded Binance, the exchange that he said would put tokenized companies in front of 330 million users. He sat down with The Rollup in New York the morning he rang the Nasdaq bell for BNB Standard Corporation.
The full interview is covered here so you can skip it.
Here are the 5 arguments that matter.
The Rollup · Oct 27, 2026
With Changpeng Zhao (CZ), Founder of Binance
Key Takeaways
BNB Chain leads in tokenized real-world assets by total value locked and by users, and CZ credits outside builders for it
Tokenized US stocks mainly serve people outside the US, who often cannot open a US brokerage account
Asian traders who can are stuck trading from midnight to 6 a.m.
Many national stock markets trade less in a day than one New York trader, and tokenization would put them in front of Binance's 330 million users
Gold has a trading venue, but many other precious metals and rare earths do not
Regulation has turned from a headwind into a tailwind, which CZ called a milestone in merging crypto and traditional finance
1. BNB Chain's Lead
CZ opened by pointing to BNB Chain's position in tokenized real-world assets, meaning traditional assets such as stocks or commodities represented as tokens on a blockchain.
BNB Chain has the most value locked and the most users in tokenized real-world assets, CZ said
"BNB chain has the highest TVL, total value locked, for tokenized real world assets. And it has the most number of users." — Changpeng Zhao
He declined the credit.
"I didn't build all of that. It's almost all built by other people." — Changpeng Zhao
