Changpeng Zhao proposed a roadmap for countries: tokenization of stocks and national stablecoins.
Binance founder Changpeng Zhao (CZ) has put forward an ambitious initiative addressed to governments worldwide. His proposal involves transitioning stock exchanges to a tokenized format and launching their own national stablecoins. According to the expert, this will be a natural stage in the evolution of the crypto industry and will allow states to take a proactive stance in the new digital economy.
Tokenization as a bridge to global investments
CZ's key idea is the mass tokenization of real-world assets (RWA), primarily stocks. By converting traditional securities into tokens on the blockchain, states open local markets to global investors, ensuring 24/7 trading. This approach is already finding practical application: several exchanges have begun trading tokenized stocks and ETFs linked to the largest American companies.
The dynamics of this segment are impressive. According to data from the analytical platform RWA.xyz, by mid-2026, the market volume of tokenized real-world assets on public blockchains exceeded $32 billion, compared to about $6 billion a year earlier. Boston Consulting Group predicts that by 2030, the market could grow to $16 trillion. This is not just a trend, but a fundamental shift that makes stock ownership more fractional, accelerates settlements, and removes barriers for foreign capital.
National stablecoins: sovereignty in a decentralized environment
The second part of CZ's strategy concerns the issuance of government-backed digital currencies pegged to fiat. Creating their own stablecoins under the patronage of central banks will strengthen the position of local currencies within decentralized networks. This is critically important for reducing the enormous dependence of local economies on the US dollar, which currently dominates this segment.
The current structure of the stablecoin market clearly demonstrates the problem: the total sector volume is about $315 billion, and approximately 99% of this amount comes from tokens pegged to the dollar (Tether USDT and USD Coin USDC). The issuance of sovereign stablecoins will allow financial regulators to maintain full monetary control within the state while integrating traditional money into modern cryptographic protocols.
Analyst's opinion
Changpeng Zhao's initiative is very timely. It offers governments not just to observe the development of the crypto market, but to actively participate in its creation, using blockchain to enhance the efficiency of their own financial systems. If at least a few major Asian economies follow this advice, we will witness an avalanche-like growth in the institutional adoption of RWAs and national stablecoins, fundamentally changing the landscape of global finance. It will be states, not private companies, that can set the pace of this transition.