Binance Research projects that crypto users could bring as much as $5 trillion in annual incremental equity capital over the next five years in a bull-case scenario, as crypto exchanges expand from digital assets into global stock access. The base case in Equity Layer: From Tokens to Tickers is already large. By 2031, crypto exchanges could collectively channel $2 trillion in incremental capital and nearly 300 million new investors into global equity markets. The strongest demand signal is coming from emerging markets, where nearly 93% of Binance stock-trading users are based.