Tokenized Stocks Binance Alpha Ondo Finance Deal

Binance is reviving its push into tokenized stocks as part of a wider expansion of on-chain access to traditional markets.

Binance Alpha integrates Ondo Finance tokenized U.S. assets

Binance, the world’s largest crypto exchange by trading volume, has listed a new batch of blockchain-based stock tokens on its Binance Alpha platform through a deal with Ondo Finance. The move comes nearly five years after Binance shut a similar service amid regulatory pressure.

Under the partnership, Binance Alpha now offers 10 tokenized U.S. stocks, ETFs and commodity-linked products issued by Ondo Finance, according to a press release published on Tuesday. Moreover, the deal signals that Binance is again willing to test the boundary between traditional securities and digital assets.

Binance Alpha operates inside Binance Wallet, the exchange’s integrated crypto wallet service. It lets users trade early-stage and higher-risk digital assets before potential listings on Binance’s centralized spot exchange. However, the new stock tokens extend that remit into regulated market exposure via tokenization.

Apple, Google, Tesla and Nvidia among listed tokenized shares

The initial lineup includes token versions of Apple, Google, Tesla and Nvidia shares, bringing some of the world’s most actively traded U.S. equities onto blockchain rails. It also features a token tied to Invesco’s Nasdaq-tracking QQQ ETF, giving users synthetic exposure to a broad tech-heavy index.

The tokens mirror price movements of the underlying U.S. assets but trade within Binance’s crypto-native infrastructure. That said, the newly listed products are not available to users in the United States, reflecting ongoing regulatory sensitivities around digital representations of securities.

Commenting on the launch, Jeff Li, Binance’s vice president of product, said the offering expands the toolkit for users looking to bridge traditional markets and crypto. “Our users now have even more convenient ways to explore and trade tokenized stocks, in line with our mission to offer innovative and accessible trading opportunities,” Li noted in a statement.

Return to a product shelved after regulatory scrutiny

The new initiative marks a clear comeback for Binance in a segment it first entered in April 2021. Back then, the exchange rolled out digital representations of Tesla shares, followed by tokens tracking Coinbase, Strategy, Microsoft and Apple. However, that earlier service was shuttered after scrutiny from the U.K.’s Financial Conduct Authority and Germany’s BaFin.

In public remarks last month, Binance said it was evaluating a renewed push into stock-linked instruments. Moreover, listing Ondo-issued tokens on Binance Alpha effectively turns that strategic review into execution, positioning the exchange once again in the competitive field of crypto stock tokens.

This time, Binance is leaning on a specialist issuer. Ondo Finance, focused on tokenizing real-world assets, is responsible for structuring and issuing the new products, while Binance provides the trading interface and distribution through its existing user base.

Sector growth pushes tokenized products toward $1 billion

The revival comes as the market for tokenized equities trading accelerates across both crypto-native and traditional financial platforms. The total value of tokenized stocks is now approaching $1 billion, underscoring growing institutional and retail interest in on-chain representations of conventional assets.

The sector is led by Ondo, which has amassed more than $550 million in locked value and generated $11 billion in cumulative trading volume since September 2025. However, a widening set of venues and intermediaries is also building their own offerings, intensifying competition for users and liquidity.

Trading platforms such as Kraken, Bybit and Gemini, along with brokerages including Robinhood, have introduced various formats of stock-linked tokens or synthetic equity exposure. Moreover, listed U.S. exchanges like Nasdaq and the New York Stock Exchange (NYSE) have outlined plans to support trading in stocks tokens, highlighting the convergence between crypto infrastructure and traditional market structures.

Why Binance is betting again on tokenized access

Binance’s renewed focus on tokenized stocks reflects a broader thesis that on-chain instruments can extend capital market access to users who are underserved by conventional brokerages. Proponents argue that digital representations of equities allow for global, 24/7 trading and finer-grained ownership structures.

Moreover, advocates say blockchain-based stocks can significantly widen access for retail investors in developing economies. Many of these users face hurdles opening brokerage accounts that provide direct exposure to U.S. equities, yet already use crypto exchanges and wallets daily.

Beyond access, tokenized assets can serve as collateral in decentralized finance (DeFi), enabling borrowing, lending and structured products built on top of recognizable brands such as Apple or Tesla. That said, whether regulators will fully accept these use cases across major jurisdictions remains an open question.

Regulatory and market outlook for stock tokens

Despite growing interest, the long-term regulatory treatment for equity-linked tokens is still evolving, particularly in the United States and Europe. Past actions by the FCA and BaFin against earlier offerings showed how quickly authorities can intervene when crypto products resemble traditional securities.

However, Binance’s partnership-based model with Ondo Finance, and its decision to exclude U.S. users, suggests a more cautious second attempt. Market observers will watch closely how supervisors respond as volumes increase and more jurisdictions develop tokenization frameworks.

For now, Binance Alpha’s latest listing slate underscores how major exchanges view tokenized representations of real-world assets as a key growth frontier, even as legal and structural questions remain unresolved.

In summary, Binance’s Alpha integration of Ondo-issued stock tokens marks a significant return to tokenized market access, reinforcing the broader shift toward bringing traditional equities, ETFs and commodities onto public blockchain infrastructure.