Binance Co-CEO Richard Teng: Exploring Expansion of Multi-Market Stock Access
Binance Co-CEO Richard Teng stated that the company is exploring the expansion of access to stocks in markets such as Hong Kong, South Korea, Taiwan, and Brazil based on user demand.
User feedback indicates a desire for exposure to leading stocks in these markets, and Teng mentioned that the company is listening and assessing how to expand its global stock products.
Previously, during TOKEN2049 in Singapore, Teng told the media that users are requesting access to the top ten stocks in each of the Hong Kong, South Korea, Taiwan, and Brazil markets. The company views this as a strategy to "weather the storm" and reduce reliance on sentiment from a single market.
Binance launched direct trading of over 7,000 U.S. stocks and ETFs for non-U.S. users in June 2026 and introduced bStocks tokenized stock products, supporting 24/5 trading and fractional shares.
This exploration has not yet disclosed specific targets, product structures (direct stocks, tokenized, or others), or a timeline for launch, and is still in the evaluation stage.
Market mechanism: Buyers are global users seeking exposure to leading non-U.S. market stocks, and sellers are exchange platforms providing access; the event is driven by user demand and platform diversification, with funds flowing from crypto asset trading to multi-asset stock products. Beneficiaries include platforms looking to reduce reliance on a single market and emerging market investors, while traditional brokers face pressure on their regional access advantages in these markets.
Source: Public Information
ABAB AI Insight
Since Richard Teng took over Binance's leadership in 2023, he has pushed the platform to transform from a pure crypto exchange to a multi-asset super app. By 2026, direct trading of U.S. stocks and bStocks tokenized products were launched. Historically, Binance had to shut down its early tokenized stock business in 2021 due to regulatory pressure, but later re-entered through compliant pathways.
In terms of capital pathways, the platform integrates stock exposure into the same account through its existing user base and stablecoin settlement system, shifting funds from crypto trading fees to multi-asset trading and custody revenue. The motivation is to diversify reliance on crypto market cycles while using tokenization to reduce geographical and cost friction for emerging market users accessing traditional stocks.
In comparison, this is similar to Robinhood's expansion from U.S. stocks to crypto or Interactive Brokers' coverage of global stocks, but Binance focuses on crypto-native users and 24-hour trading. It is currently in a phase of expanding from a single crypto asset to a full asset platform, akin to traditional brokers' expansion into multi-markets and derivatives in the 2000s.
Structurally, this represents a cross-section of industry chain reconstruction and capital concentration: crypto exchanges, by accessing traditional stock markets, concentrate trading flows that were previously dispersed among regional brokers onto a global platform. The mechanism is that users have already completed identity verification and fund deposits in their crypto accounts, so stock products only need to add targets and settlement layers to capture incremental demand, while tokenization helps bypass some traditional clearing and trading hour restrictions.
ABAB News · Cognitive Laws
- Wherever users are, products will follow.
- A single asset platform will eventually expand into a multi-asset entry.
- When access costs decrease, geographical barriers are the first to be broken.