Binance and Coinbase are expanding blockchain-based access to equities, with Binance’s bStocks surpassing $100 million in assets under management 15 days after its June 2026 launch and cumulative trading volume reaching $458 million shortly afterward. Coinbase launched tokenized stocks on Base in August 2026, generating $227.7 million in decentralized exchange volume during its first 30 days. Its initial offerings included Nvidia, Meta and Apple, followed later by Amazon and Microsoft, while Binance added Salesforce in September 2026. Coinbase says its tokens can potentially provide dividends and voting rights, bringing them closer to direct ownership than synthetic derivatives. The wider tokenized equities market recorded a 415% increase in transfer volumes over a 30-day period, reaching $29.5 billion. Revolut is taking an on-ramp approach through its December 2025 partnership with Trust Wallet, allowing EU users to buy crypto through Revolut and receive it in self-custodial wallets. Nubank instead served as a design partner for Stripe’s Tempo stablecoin settlement layer, placing it in the infrastructure behind onchain payments. Binance and Coinbase are competing at the trading layer, Revolut at the access layer and Nubank at settlement. Tokenized equities can extend trading beyond traditional market hours and offer investors in countries with limited US-market access additional ways to participate. Both Binance and Coinbase restrict their tokenized equity products to non-US users, reflecting the regulatory complexity of offering securities-like products to American investors.