Binance Revives Tokenized Stock Platform with Ondo Finance Partnership

Binance has made a major comeback in the tokenized stock market with the relaunch of its Binance Alpha platform in partnership with Ondo Finance. The new service allows users to trade 10 tokenized U.S. stocks, ETFs, and commodity-linked products on the blockchain.

The move is significant for Binance, which previously shut down a similar service due to regulatory pressure from authorities such as the UK's Financial Conduct Authority and Germany's BaFin. However, this time around, the exchange has taken a more cautious approach by partnering with Ondo Finance, which specializes in tokenizing real-world assets.

The new service is available through Binance Alpha, which operates inside Binance Wallet, allowing users to trade early-stage and higher-risk digital assets before potential listings on Binance's centralized spot exchange. The tokenized stocks include well-known brands such as Apple, Google, Tesla, and Nvidia, as well as a token tied to Invesco's Nasdaq-tracking QQQ ETF.

The market for tokenized equities trading is growing rapidly, with the total value of tokenized stocks approaching $1 billion. The sector is led by Ondo Finance, which has amassed more than $550 million in locked value and generated $11 billion in cumulative trading volume since September 2025. However, a widening set of venues and intermediaries are also building their own offerings, intensifying competition for users and liquidity.