Shunyet Jan, Head of Trading at Binance: Long-term Goal is to Expand Users from 300 Million to 3 Billion
Shunyet Jan, Head of Trading at Binance, stated that the competition among future financial platforms will not be limited to cryptocurrency trading, but will integrate investment, payment, lending, and asset management into a single ecosystem, covering both traditional finance and the crypto market. He has worked for about 30 years at Goldman Sachs, Morgan Stanley, and JPMorgan Chase, and joined Binance in December 2025, overseeing trading operations including spot, perpetual, and tokenized stocks.
Jan outlined the strengths of both sectors. Traditional finance excels in regulation, risk management, and functional separation; the crypto industry is strong in 24/7 trading, fast settlement, and openness. He believes that the integration will accelerate. Binance's products will include unified accounts, cross-asset margin, tokenized assets, and stablecoin payments, aiming to allow users to utilize the financial value of their underlying assets without selling them, and to simplify asset selection and risk management using artificial intelligence.
He provided the user numbers himself. Binance currently has over 300 million users, most of whom come from emerging markets. Among users of direct stocks and tokenized stock products, about 90% are from emerging markets. The long-term goal is to expand users from 300 million to 3 billion and to become a financial infrastructure accessible to more people. The company's ninth anniversary blog also mentioned serving over 300 million retail users.
The stock data already launched is more specific than the 3 billion target. By June 2026, Binance will open over 7,000 U.S. stocks and ETFs. Direct stocks reached $1 billion in assets within about 30 days, with a cumulative trading volume close to $3 billion, and over 73% of the trading volume in the first month came from emerging markets. The tokenized product bStocks exceeded $100 million in assets within 15 days, with 47% of transactions occurring outside U.S. market hours. Binance Research estimates that by 2031, crypto exchanges could bring nearly 300 million new users and about $2 trillion in incremental funds to global stock markets.
The initial list of bStocks includes tokenized versions of Nvidia, Tesla, Circle, Micron, and Sandisk, which can be traded around the clock and transferred to supported self-custody wallets. A July discussion compiled by DefiLlama noted that many bStocks transactions are fractional shares starting at $5. Jan mentioned that there is a stronger demand for foreign investment and traditional banking services in emerging markets.
This is not a single order, but a publicly stated goal for the platform. The buyers are users in emerging markets who use the same account for crypto, stocks, and payments, while the sellers are Binance, which brings U.S. stocks, ETFs, and stablecoin payments into the exchange. The event-driven aspect comes from the statements of the head, not from single-day net inflows. The beneficiaries are the product lines that have already gained access to 7,000 stocks, with 73% of the first month's transactions coming from emerging markets; the pressured parties are platforms that only do crypto spot trading or can only provide stocks during local market hours, as the competition shifts from trading volume to account coverage with the goal of expanding from 300 million to 3 billion users.
90% refers to the proportion of stock product users, while 73% refers to the proportion of direct stock trading volume in the first month. Both figures point to emerging markets, albeit with different metrics.
Source: Public Information
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Shunyet Jan's path is a functional split from Wall Street into crypto exchanges. He has worked for about 30 years at Goldman Sachs, Morgan Stanley, and JPMorgan Chase since the 1990s, and joined Binance in December 2025, with titles covering spot, perpetual, and bStocks. After Binance's settlement with the U.S. Department of Justice in 2023, it publicly expanded from merely listing coins to stocks, payments, and cards. By June 2026, over 7,000 U.S. stocks and ETFs will be opened, with $1 billion in assets within 30 days, reflecting the results of this team after their onboarding.
Funds did not first aim for 3 billion users, but rather to establish an entry point for stocks in emerging markets. Over 73% of the trading volume in the first month for direct stocks came from emerging markets, and Jan later mentioned that the user proportion for direct and tokenized stocks is about 90%. bStocks exceeded $100 million in assets within 15 days, with 47% of transactions occurring outside U.S. market hours, and fractional shares starting at $5. The design of unified accounts and cross-asset margin allows users to use their balances as margin and payment sources without selling their assets. The goal of expanding from 300 million to 3 billion is a target, not a count of accounts that have already been opened.
In comparison, Robinhood integrates crypto, options, and retirement accounts into a single application, while Revolut layers stocks and crypto on top of payment accounts. Binance is currently in an expansion phase: 7,000 stocks have been opened, but the 3 billion users have yet to materialize. Control lies in the exchange's accounts and listing of coins, not in local brokers' trading hours.
Essentially, this is a restructuring of the industry chain. Traditional finance separates trading, payment, lending, and asset management through functional isolation, while crypto exchanges stack these four functions under a single login. The mechanism addresses the lack of foreign stocks and banking channels in emerging markets, with exchanges using stablecoin settlements and around-the-clock tokenized stocks to fill the gap. Regulation and risk management are still acknowledged by Jan as advantages of traditional finance, so the integration does not eliminate isolation, but rather reassembles isolated products into a single account.
ABAB News · Cognitive Law
300 million is the number of accounts, while 3 billion is the coverage target.
Not selling assets allows balances to be treated as credit.
Trading hours belong to the exchange, no longer to the local market.