CZ urges governments to put stocks and stablecoins on the blockchain

Binance founder Changpeng Zhao (CZ) is calling on governments worldwide to migrate stock markets to blockchain networks and issue their own national stablecoins. He says traditional finance is entering a new on-chain era.

His comments follow meetings with government officials and financial regulators in Asia to discuss the future of blockchain technology and digital assets. 

And to CZ, tokenizing stocks will change how people invest. Tokenization is the process of converting traditional assets, such as company shares, into digital tokens on a blockchain. 

CZ, in recent social media posts, said all countries should allow their stocks to be tokenized so investors around the world can buy and trade them easily. 

That could democratize stock markets and make it easier and cheaper to do so, he said. Tokenized stocks have many advantages for investors. 

Blockchain-based stock trading can be done 24 hours a day, 7 days a week, and traded online using blockchain technology, which is not present in the stock market itself. 

Tokenization also enables fractional ownership, allowing investors to buy small fractions of expensive shares rather than whole units. It also has a quick settlement. 

Traditionally, stock trades can take days, and blockchain trades can happen much faster. Even though exchanges already offer tokenized versions of stocks and exchange-traded funds (ETFs), no country has yet put its entire stock exchange on a blockchain. 

There’s a lot of interest in tokenized real-world assets. Data from RWA.xyz, for example, shows that tokenized real-world assets on public blockchains were valued at $32 billion by mid-2026, up from $6 billion a year earlier. 

Meanwhile, consulting firm Boston Consulting Group has predicted that the tokenization market could reach $16 trillion by 2030. 

“Countries need to tokenize their stocks, allowing worldwide buyers,” CZ wrote in one of his posts.

Can national stablecoins reduce dependence on the US dollar?

In addition to tokenized stocks, CZ is also encouraging governments to generate their own fiat-backed stablecoins. Stablecoins are cryptocurrencies that maintain their value by being pegged to traditional currencies such as the US dollar, the euro, or other national currencies. 

CZ argues that national stablecoins can help scale the use of local currencies on blockchain networks and digital payment platforms. If more transactions are made with a country’s stablecoins, those stablecoins will become more prevalent in the growing digital asset ecosystem. 

For now, the stablecoin market is dominated by US dollar-backed tokens. According to DefiLlama, dollar-pegged stablecoins currently account for nearly 99% of the global stablecoin market, which is worth around $315 billion. 

The largest stablecoins are Tether (USDT) and USD Coin (USDC). Governments could eliminate dollar-based digital currencies and retain greater control over monetary and financial policy. 

But national stablecoins also raise questions about regulation, adoption, and the role of central banks. Many governments are still trying to figure out how digital currencies fit into current financial systems.

Governments show growing interest in crypto adoption

CZ’s recommendations reflect a broader trend of governments exploring blockchain technology and digital assets. In recent years, he has taken on advisory roles in several countries seeking to develop crypto-related policies and infrastructure.

He currently serves as a strategic adviser to the Pakistan Crypto Council and is also advising Kyrgyzstan on cryptocurrency initiatives, including a gold-backed stablecoin. Meanwhile, Binance has received approval to help develop a cryptocurrency marketplace in Kazakhstan.

Interest in stablecoins is also increasing among users in developing economies. Binance co-CEO Richard Teng recently stated that 36% of the platform’s users in emerging markets now hold at least half of their assets in stablecoins. According to Teng, this trend suggests that stablecoins are becoming a practical tool for everyday payments and financial transactions.

The discussion around tokenized stocks and government-backed stablecoins highlights how quickly blockchain technology is moving beyond cryptocurrencies alone. While large-scale adoption by governments may still take time, growing interest from regulators, investors, and financial institutions suggests that blockchain-based financial systems could play a much larger role in the future.

If countries embrace CZ’s vision, stock markets, currencies, and other financial assets may increasingly move onto blockchain networks, potentially reshaping how people invest, trade, and transfer value across borders.

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