What happened
Binance, in a research note circulated Wednesday and reported by AMBCrypto, put a number on a thesis that has been quietly reshaping exchange strategy for two years: crypto-native apps that fold in equities, payments, and yield could pull around $2 trillion into global stock markets by 2031. The note frames the super-app as a distribution layer for tokenized equities rather than a trading venue.
It's a stake-in-the-ground figure from the largest crypto exchange by volume, and it's deliberately big. The number isn't a forecast in the strict sense. It's a positioning document.
Binance is telling regulators, partners, and competitors how it intends to read the next five years, and where it expects retail brokerage flows to migrate. The piece doesn't break out methodology in detail, but the assumption stack is visible: tokenized stocks become widely available in major jurisdictions, fees compress toward zero, and the friction between holding USDC, holding tokenized Apple, and holding spot BTC collapses inside one app.
Why it matters
The super-app pitch isn't new. Revolut has chased it since 2020. Robinhood pushed into crypto in 2018 and into tokenized US equities for European users in 2025.
What's new is the direction of travel. Crypto-native exchanges are reaching into traditional brokerage, not the other way around. Binance's $2 trillion figure is a claim on where retail capital sits in 2031.