Binance considers relaunching US stock tokens, global cryptocurrency exchanges compete for market layout.

Multiple large cryptocurrency exchanges worldwide are competing to launch tokenized stocks trading services that track the movements of US stocks, creating a parallel market not regulated by US regulatory agencies. According to an insider, Binance is considering re-introducing stock tokens on its platform, which were delisted in 2021. Another global leading cryptocurrency platform, Etoro's Global Managing Partner and Chief Marketing Officer Haider Rafique, stated that the company is also considering launching tokenized stocks services. Currently, exchanges including Kraken, Bitget, and decentralized platforms like Jupiter have gradually gained market attention with their stock token products. The structure of stock tokens varies, essentially being tokenized certificates of companies like Apple and Nvidia, allowing investors to trade through overseas cryptocurrency exchanges even when US stock markets are closed. Additionally, investors unable to open US brokerage accounts can indirectly participate in the US stock market through these tokens, with trading supporting anonymous mode.