CZ proposes a roadmap for states: tokenization of stocks and national stablecoins
Binance founder Changpeng Zhao (CZ) has put forward a comprehensive proposal for governments: to transition stock exchanges to tokenized assets and launch their own national stablecoins. In his view, the adoption of sovereign blockchains is the next logical stage in the evolution of the crypto industry.
During official meetings with leaders and financial regulators in several Asian countries, CZ detailed his vision. The main thesis is the tokenization of real-world assets (RWA), primarily company stocks. Converting traditional securities into tokens on the blockchain opens up round-the-clock access to local markets for global investors, accelerates settlements, and lowers entry barriers. Alongside this, the issuance of state-backed digital currencies (stablecoins) will strengthen the position of local fiat currencies within decentralized networks.
The RWA market is already experiencing explosive growth. According to RWA.xyz, by mid-2026, the volume of tokenized real-world assets on public blockchains exceeded $32 billion, compared to about $6 billion a year earlier. Analysts at Boston Consulting Group predict that by 2030, this market could reach $16 trillion. Several exchanges are already trading tokenized stocks and ETFs linked to major US companies.
Sovereign stablecoins and CZ's advisory activities
CZ's initiative is not limited to stock tokenization. He is actively promoting the idea of creating fiat digital counterparts under the patronage of central banks. In his view, the emergence of sovereign stablecoins is not just a technological step but a strategic necessity. This would reduce the enormous dependence of local economies on the US dollar, which dominates the stablecoin market with a share of about 99% (the sector's total capitalization is $315 billion, according to DefiLlama). At the same time, financial regulators maintain full monetary control within the state.
CZ himself is already actively advising governments in practice. He serves as an advisor to the Pakistan Crypto Council, supports the government of Kyrgyzstan in designing a gold-backed national coin. Additionally, Binance has received approval to launch a cryptocurrency platform in Kazakhstan. The company's current CEO, Richard Teng, confirms the avalanche-like growth in stablecoin popularity: about 36% of clients from developing regions prefer to store more than half of their savings in stable digital coins, which, he says, proves their role in simplifying everyday payments.
Expert opinion (Cryptalist): CZ's proposal is not just an abstract idea but a clear roadmap for states wishing to integrate into the global digital economy without losing sovereignty. Tokenizing stock exchanges and issuing national stablecoins are two complementary drivers that could radically change the landscape of traditional finance. If governments adopt this approach, they, rather than private players, will be able to set the pace for transitioning markets to an on-chain format.