Binance opens pre‑IPO token trading

Binance has added pre-initial public offering tokens to the Markets tab of its Web3 Wallet, putting private-company exposure into its app. (finance.yahoo.com) Binance said five pre-initial public offering assets are now visible in the wallet view of the app, and reports published on April 11 said the rollout includes names tied to SpaceX and OpenAI. Binance’s own post did not list all five by name. (finance.yahoo.com) The product sits inside Binance’s Web3 Wallet, which is the company’s non-custodial wallet for on-chain trading rather than its main centralized exchange. Binance launched that wallet in late 2023 and said it uses multi-party computation, a system that splits wallet control into separate key shares. (binance.com) The underlying idea is simple: a token trades on a blockchain, and its price is meant to track a private company’s stock before any public listing. PreStocks, the provider cited in reports about the Binance rollout, says its products are “fully backed” by special-purpose-vehicle exposure and trade around the clock on Solana. (prestocks.com) What buyers get is not the same as owning common stock. PreStocks says its tokens do not confer ownership, voting, dividend, information, or other legal rights in the underlying company, and reporting on the Binance launch said the tokens are not available to United States persons. (prestocks.com) That distinction puts Binance’s new listing into a fast-growing but unsettled corner of finance. The Securities and Exchange Commission said in a January 28, 2026 statement that tokenized securities remain subject to federal securities laws even when they are issued or traded on blockchain rails. (sec.gov) The pitch is access. Traditional pre-initial public offering platforms such as EquityZen market private-company shares to accredited investors, while Binance’s wallet feature puts tokenized exposure next to crypto assets inside a mass-market app. (equityzen.com) The criticism is clarity. The Defiant reported this week that some users questioned how these tokens should be valued and how redemption works when the underlying companies are private and many jurisdictions restrict participation. (thedefiant.io) Binance is not alone in testing demand. Bitget said on April 10 that it launched a SpaceX-linked pre-initial public offering product with Republic, but that token is tied to post-listing performance rather than direct ownership of SpaceX shares. (cointelegraph.com) For now, Binance’s move does not make SpaceX or OpenAI stock publicly tradable in the usual sense. It gives wallet users a new way to bet on private-company valuations before any listing arrives. (beincrypto.com)