Crypto Exchanges Want to Trade U.S. Stocks Everywhere

Some of the world’s biggest crypto exchanges are racing to let their customers trade crypto tokens that seek to track U.S. stocks, creating a parallel market that’s beyond the reach of U.S. regulators.

Binance is exploring reintroducing stock tokens on its exchange after having removed them in 2021, according to a person familiar with the plan. OKX, another major global platform, is also considering offering tokenized stocks, according to its global managing partner and chief marketing officer, Haider Rafique. Exchanges including Kraken and Bitget and decentralized platforms like Jupiter are already gaining traction with their stock token offerings.