The line between traditional brokerage accounts and crypto wallets keeps getting thinner. Binance, Coinbase, Revolut, and Nubank have each moved to bring new onchain products to market, taking slightly different routes toward the same underlying bet: that financial products work better when they live on a blockchain.

Tokenized Equities Lead the Push

The most aggressive push has come from tokenized equities. Binance launched its bStocks product in June 2026 on BNB Chain, offering 1:1 backed representations of US stocks to eligible non-US users. Coinbase followed in August 2026 with its own tokenized stocks on the Base chain. Both platforms effectively let people trade shares of companies such as Nvidia and Tesla without ever touching a traditional brokerage.

Adoption has been rapid. Binance's bStocks crossed $100 million in assets under management within 15 days of launch, and cumulative trading volume hit $458 million shortly after. Coinbase's tokenized stocks generated $227.7 million in DEX volume during their first 30 days. The initial lineup featured Nvidia, Meta, and Apple, with Amazon and Microsoft added later.

Coinbase's version carries a notable distinction: holders can potentially receive dividends and exercise voting rights, making the tokens feel less like synthetic derivatives and more like actual ownership. Binance expanded its own roster in September 2026, adding Salesforce to the bStocks lineup.

The broader tokenized equities market tells an even bigger story. Transfer volumes surged 415% within a 30-day period, reaching $29.5 billion. The comparison between the two products also shows that "tokenized equities" is not a single model: the rights attached to a token and the chain on which it trades can vary by platform.

Revolut and Nubank Take Different Paths

Beyond equities, Revolut and Nubank are pursuing distinct strategies. Revolut partnered with Trust Wallet in December 2025 to enable instant crypto purchases directly into self-custodial wallets for EU users. Most fintech apps that offer crypto keep assets locked inside their own ecosystems, making it difficult for users to move holdings into wallets they actually control. Revolut's integration flips that model: users buy crypto through Revolut's interface and receive it in a self-custodial wallet, holding their own keys.

Nubank chose an infrastructure route, serving as a design partner for Stripe's Tempo stablecoin settlement layer. Rather than launching a consumer-facing tokenized product of its own, the company positioned itself within the infrastructure powering onchain payments.

Competing Across the Stack

Each company is effectively picking a different layer of the stack to compete on. Binance and Coinbase are going after the trading layer. Revolut is focused on the on-ramp. Nubank is betting on settlement infrastructure. Together, these approaches show that the onchain shift is extending beyond the products users see directly: it also involves how assets are accessed, held, traded, and settled.

Tokenized equities allow trading outside traditional market hours and give global investors—particularly those in countries with limited access to US markets—new ways to participate. Both Binance and Coinbase have restricted their tokenized equity products to non-US users, a clear acknowledgment of the complexity involved in offering securities-like products to American investors.