Changpeng Zhao, founder of Binance, has once again called on governments to « tokenize everything » to attract direct foreign investments, an argument he has championed since early 2024. He claims to be in discussions with more than a dozen governments to tokenize their sovereign assets, including government bonds, commodities, or public real estate. BNB Chain saw its number of tokenized asset holders surge from 400,000 to 524,000 in just three days in mid-August, a 31% increase representing 567% annual growth. Binance now advises Pakistan’s crypto council and Kyrgyzstan on such initiatives, and has obtained authorization to develop a crypto market in Kazakhstan. Despite the strength of the theoretical argument, the gap between the stated ambition and the regulatory approvals obtained market by market remains the real measure of the distance yet to travel.
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