Tokenized Equities May Pour $2T Into Stocks—Emerging Markets Already Doing the Heavy Lifting 🚀

Crypto exchanges could collectively channel up to $2 trillion in incremental capital and onboard nearly 300 million new users into global equity markets by 2031, according to a Binance Research report, with a bullish case projecting inflows as high as $5 trillion. The estimate centers on tokenized stocks and ETFs, blockchain-based representations of U.S. equities that allow crypto-native traders to access traditional markets through digital platforms. Binance's own tokenized stock product is already dominated by emerging markets, with 93% of trading volume originating from those regions, a pattern that mirrors the geographic distribution of global stablecoin adoption.

The opportunity is sized against a U.S. equity market valued at roughly $80 trillion, approximately half of the world's total market capitalization. Yet Binance Research notes that 82% of the global population lacks direct access to that market, including in China and India, which together represent about a third of the world's population but post equity participation rates below 20%. The report argues that crypto platforms have effectively removed the brokerage barriers that historically constrained retail access, positioning so-called "crypto super-apps" that combine crypto, equities, and cash management in a single interface as the next competitive battleground. Coinbase, Binance, Gemini, and Hyperliquid are all cited as pursuing that vision.

The report also flags structural risks that could complicate the trajectory. Tokenized real-world asset perpetuals have outpaced spot products in user demand, exposing traders to rapid liquidations and amplified volatility. Investor protections vary by issuer, and some tokenized stock offerings do not pass through dividends to holders. Regulatory pressure is also intensifying, particularly across Africa, where governments have moved to restrict exchange-related capital flows, potentially freezing user assets held on platforms.

Binance Research framed tokenization as a mechanism to broaden participation in global equity markets, particularly in regions with limited traditional brokerage infrastructure. The base case of $2 trillion in capital and roughly 300 million new users is tied to 2031, with the upside scenario projecting an additional 200 million users from emerging markets. The findings underscore both the scale of the addressable market and the operational and regulatory frictions that exchanges will need to navigate as tokenized equities move from a niche product toward a mainstream trading channel.