According to CoinMeta, Zhao Changpeng (CZ), the founder of Binance, stated that IPO will gradually shift towards blockchain. The market value of tokenized stocks has approached $3 billion, and preliminary IPO crypto transactions indicate a strong demand from retail investors for early investments. According to Binance's research, it is expected that US IPO revenues will exceed $225 billion in 2026. Meanwhile, the French ST group completed Europe's first fully on-chain IPO through the Lise exchange in April, marking a further development of this trend.