Generation Z is the largest user cohort for Binance's stablecoin-based stock trading products, according to data from Binance Research, accounting for 44% of users on both Binance Direct Stocks and bStocks. The products allow crypto users to gain exposure to equity price movements using stablecoins, part of a broader push by major exchanges to bridge digital asset trading with traditional financial markets.

The same cohort also represents about 45% of TradFi perpetual users, putting it roughly in line with Millennials in that product category. Binance Research's data points to Gen Z as the leading demographic across the exchange's suite of traditional finance-linked crypto products.

Gen Z Leads Binance's TradFi Product Adoption

Binance Research said Gen Z's lead is visible not only in individual product usage but also across users who have adopted the full TradFi product suite. Among traders using all three TradFi offerings, which Binance Research treats as a sign of deeper engagement rather than casual testing, Gen Z accounts for 48%.

Millennials make up 33.6% of that group, while Gen X represents 13.6% and Baby Boomers account for 4.9%.

Gen Z Dominates Binance's Stablecoin-Based Stock Trading, Accounting for 44% of Users

Binance Research said Gen Z is the largest user group for its stablecoin-based stock products, accounting for 44% of both Binance Direct Stocks and bStocks users, as well as about 45% of TradFi… pic.twitter.com/Asbq0xbqj4

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New-user data shows the Gen Z share continuing to rise in 2026. The cohort's share of newly onboarded TradFi users increased from 41% in January 2026 to 47% by July, according to Binance Research.

The data indicates that younger traders are increasingly using Binance's stablecoin-based stock products as an entry point into equity-market exposure. The upward trend in Gen Z adoption through 2026 suggests that stablecoin-based equity products are moving beyond early experimentation toward sustained usage among this demographic.

Binance Research also linked Gen Z's participation to earlier investing behavior. Thirty percent of Gen Z investors began investing during university or early adulthood, more than double the 15% reported among Millennials.

The cohort also reported the highest level of formal financial education among surveyed generations, at 77%.

Geography is another major factor in the user profile. More than 90% of TradFi users across every generation are based in emerging markets, while the share among Gen Z users is 95%. The concentration in emerging markets reflects a broader pattern in which crypto infrastructure is providing access to U.S. dollar-denominated financial assets in regions where direct equity-market access has historically been limited by capital controls, regulatory barriers, or infrastructure gaps.

Within that group, 13% of Direct Stocks users are Gen Z traders with less than $2,000 in equity assets, a segment that Binance Research described as often receiving its first exposure to U.S. equities through these products.

Trading Volume and Behavior Show Gen Z's Growing Role

Gen Z's leading user share is also reflected in trading activity. The cohort has generated approximately $80 billion in TradFi trading volume year-to-date in 2026, according to Binance Research.

Monthly volume for Gen Z users has compounded at about 24%, despite the cohort having the lowest capital per user among all generations.

Although Gen Z represents the largest user base, its trading behavior was characterized as more measured than aggressive. Leveraged ETFs made up 5.9% of Gen Z's total trading volume, the lowest share among all generations. Baby Boomers had the highest leveraged exposure, at 8.1%.

Lower-balance Gen Z traders, described by Binance as Next Gen Users, were less active than the broader user base. This segment averaged 2.6 trades per day, compared with 3.0 trades per day among other cohorts.

Their first trades were concentrated in established names. NVIDIA accounted for 20% of first trades among these users, while Micron accounted for 8%.

Across the reported metrics, Binance Research presents Gen Z's 44% share of users as evidence that stablecoin-based stock trading has gained its strongest traction among younger traders in emerging markets, including users entering global equity markets for the first time.