Binance Founder Sees On-Chain IPOs as Inevitable, Infrastructure Ready

Initial public offerings are set to migrate onto blockchain networks, according to Binance co-founder Changpeng Zhao. His prediction arrives at a moment when tokenized IPOs are already operating on regulated, live platforms.

While Zhao did not specify a timeline or provide further details, the infrastructure he referenced is already functional, with the initial transactions completed. For investors, three factors will shift, and one key element will remain unchanged.

What On-Chain IPOs Change for Investors

IPOs will move on chain.

— CZ 🔶 BNB (@cz_binance) September 8, 2026

The primary change is access. A tokenized IPO can include retail investors from the first day of trading, whereas traditional allotments remain limited to institutional and accredited investors.

Second is timing. Tokenized exchanges operate continuously, meaning a listing no longer needs to wait for a market open. Third is size; shares can be subdivided into small fractions natively.

Costs also shift. Traditional listings involve fees for underwriters, lawyers, and auditors, while automation reduces some of those intermediary costs.

Capital is flowing into the concept. Tokenized equities currently account for about $2.9 billion in on-chain value, according to rwa.xyz, marking an increase of roughly 14% within a month. Grayscale has identified BNB Chain as one of the prominent chains for tokenized stocks.

What Stays Exactly the Same

The legal framework remains unchanged even as the format evolves. In January, the SEC stated that tokenization of a share does not alter the obligation to register and disclose.

However, ownership details require scrutiny. Some listed tokens track a stock’s price without granting shareholder rights, and the fine print determines that.

Traditional exchanges are also adapting. In April, the NYSE submitted a rule that became effective instantly. Tokenized versions of large-cap stocks can now be traded alongside conventional shares, with settlement occurring the next day. In Europe, an exchange operating under the EU’s distributed ledger pilot regime conducted the first on-chain IPO in the same month.

Liquidity remains the unresolved issue. While a tokenized listing can trade 24/7, shallow order books still cause significant price volatility.

Zhao has issued a number of confident market predictions this year. The current one is already backed by operational examples, making the remaining question one of scale rather than feasibility. The next indicator will be if a well-known company chooses a similar path.