Binance is democratizing pre-IPO price discovery with its new Pre-IPO Perpetual Contracts. These products allow eligible users to speculate on the expected valuations of private companies like SpaceX and OpenAI before their public listings, bridging the gap between institutional and retail investors.

The product is built on Payward's xStocks framework, the tokenized equities platform Kraken acquired through its purchase of Backed Finance in late 2025.

June 7 : Cryptocurrency exchange Bybit said it will offer retail investors access to tokenized initial public offerings (IPOs) at the offering price, starting with SpaceX as its…

SpaceX, which began its roadshow last week, has drawn investor demand of about $150 billion for its IPO, about double the $75 billion it is seeking to raise, said two people…