Changpeng Zhao proposed a universal plan for countries to develop the crypto market: tokenization of stocks and national stablecoins.
Binance founder Changpeng Zhao (CZ) has outlined a comprehensive strategy for nations seeking to strengthen their positions in the global crypto economy. Key elements of his proposal include transitioning stock exchanges to a tokenized format and launching national stablecoins. According to the expert, the implementation of sovereign blockchains will be the next logical step in the evolution of the entire industry.
These recommendations were formulated following a series of official meetings with leaders and financial regulators from several Asian countries. CZ notes that the dialogue is already yielding concrete results, but does not disclose which specific states were involved in the negotiations.
Tokenization of Real-World Assets (RWA) as a New Standard
Zhao's central idea is the tokenization of real-world assets (RWA). Converting ordinary company shares into tokens on the blockchain opens up round-the-clock access to local markets for global investors. This approach is already beginning to be implemented in practice: it simplifies fractional ownership, accelerates settlements, and removes barriers for foreign capital.
It is worth noting that, as of now, no country in the world has yet transitioned all its stock exchanges to a tokenized model. However, the RWA segment is experiencing explosive growth. According to data from the analytical platform 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.
Several exchanges are already trading tokenized stocks and ETFs linked to major US companies. Boston Consulting Group forecasts that the tokenized asset market could grow to $16 trillion by 2030.
National Stablecoins and Reducing Dollar Dependence
The second most important element of the strategy is the launch of proprietary stablecoins under the patronage of central banks. This will allow for the full integration of traditional fiat money into modern cryptographic protocols while maintaining complete monetary control by the state.
According to DefiLlama, the dominance of dollar-denominated assets in this segment remains total: the total stablecoin market cap is $315 billion, with approximately 99% accounted for by tokens pegged to the US dollar (leaders being Tether USDT and USD Coin USDC). The emergence of sovereign digital currencies will help reduce the enormous dependence of local economies on the American currency.
Practical Steps and Consulting
Zhao's initiative harmoniously complements his current consulting activities. Currently, the Binance founder serves as an advisor to Pakistan's Crypto Council and also supports the government of Kyrgyzstan in designing a national gold-backed coin. Additionally, Binance has received approval to launch a cryptocurrency platform in Kazakhstan.
Current co-CEO of the company, Richard Teng, confirms the explosive growth in popularity of secure tokens. According to his data, approximately 36% of clients from developing regions prefer to store more than half of their savings in stable digital coins, proving their role in simplifying everyday payments.
Cryptalist Analytical Commentary: CZ's proposal is not just an abstract concept, but a clear roadmap for countries wishing to keep pace with the digital transformation of finance. Tokenization of stock markets and the creation of national stablecoins are two complementary levers that will allow states to maintain financial sovereignty in the era of decentralization. If governments adopt this approach, it will be they, not private players, who can set the pace for transitioning traditional markets into an on-chain format.