After years of silence, an old project is back with new ambitions
In the world of cryptocurrencies, few ideas have aroused as much enthusiasm and as much distrust as the token shares: digital instruments that allow the value of traditional shares to be replicated on the blockchain. After the abrupt stop in 2021, when several exchanges were forced to withdraw these products due to regulatory pressure, today the topic is suddenly back at the centre of the debate.
Binance, one of the largest global players in the sector, is reportedly considering a strategic return to this segment. A signal that indicates not only a change of corporate direction, but also a possible maturation of the regulatory and technological framework.
The project is not simply about relaunching a product, but a broader vision: to bring traditional stock markets into the blockchain ecosystem.
What are stock tokens and why are they so controversial
The bridge between traditional finance and crypto
Stock tokens are digital instruments that replicate the performance of publicly traded securities. They do not necessarily represent direct ownership of the share, but allow investors to gain exposure to its value through a crypto platform. This model promises significant advantages:
- access to equity markets without traditional intermediaries;
- trading 24/7;
- ability to split even very expensive stocks.
In theory, a democratisation of equity investment.
Regulatory difficulties
The main problem has always been legal. In many jurisdictions, equity tokens are for all intents and purposes considered regulated financial instruments, subject to the same rules as securities and derivatives. In 2021, several exchanges were forced to withdraw these products due to a lack of proper authorisation. Since then, the industry has waited for a clearer regulatory framework before attempting a new assault.
Because today's context is different
A more mature and more-policed market
In recent years, the crypto market has changed profoundly. After crises, bankruptcies and scandals, compliance has become the watchword. Large platforms are investing in licences, internal controls and dialogue with the authorities. This new attitude could make possible what was premature before: offering complex products such as equity tokens in a regulated and transparent environment.
Growing interest in tokenized assets
At the same time, there is growing interest in tokenizing real assets: stocks, bonds, real estate, funds. Large banks and asset managers are actively experimenting with blockchain solutions. In this scenario, the return of equity tokens no longer appears as an isolated gamble, but as part of a broader transformation of global finance.
Opportunities for investors and markets
Wider access to global securities
If implemented correctly, equity tokens could open the doors of international markets to millions of new investors. A young saver in Asia or Africa could gain exposure to US securities with just a few clicks, without foreign accounts or complex intermediaries. This could increase:
- global liquidity;
- small investor participation;
- market efficiency.
The risks not to ignore
Confusion between real possession and digital replication
One of the main dangers is a lack of understanding of the product. Many investors may believe they own a real share, when in fact they are only holding a token that replicates its price. Without absolute transparency on rights, dividends and guarantees, the risk of litigation is high. For crypto platforms, share tokens represent a new growth frontier. They allow them to expand their offerings beyond traditional cryptocurrencies, directly competing with online brokers and banks. But because of this, the regulatory stakes are very high.
It is by no means a given that regulators will welcome the return of equity tokens. In many jurisdictions, the line between innovation and regulatory infringement remains thin.
A new phase for the meeting between Wall Street and blockchain
The possible return of equity tokens marks a symbolic moment for the crypto industry. It is no longer about challenging traditional finance, but about integrating it piece by piece. If this new initiative succeeds, it could usher in a phase where equities, bonds and funds will travel natively on the blockchain, with ever-open markets and ever-thinner boundaries. The failure of the past has taught caution. But the future, today, seems once again open to the most ambitious bet: to bring the entire capital market into the digital age.
