This is a general announcement. The products and services mentioned herein may not be available in your region. Terms and conditions apply.
Fellow Binancians,
Binance Wallet will soon launch the SPCXx IPO Campaign, providing eligible users with the opportunity to participate in a non-guaranteed subscription process for SpaceX’s tokenized securities via xStocks.
The IPO Campaign is designed to connect traditional capital markets with on-chain financial markets, enabling eligible users to submit subscription applications to be allocated SpaceX tokenized securities upon SpaceX’s potential IPO. As the first project to be launched under the Binance Wallet IPO Campaign, the SpaceX tokenized securities are open for subscription applications.
Users who are successfully allocated will receive SPCXx tokens (SpaceX tokenized securities via xStocks) after the issuance is completed, thereby obtaining price exposure to the SpaceX IPO. Please note that there is no guarantee that the user’s subscription application will be successful, as this will be determined by a number of factors. If the user’s subscription is not successful, the pledged funds will be refunded in full.
Subscription Application Timeline:
Subscription Application Period - 2026-06-11 00:00 (UTC) to 2026-06-12 04:00 (UTC):
Subscription will open at this time for all eligible users to apply. Please note that once committed, your USDC will be locked until final token distribution or refunded upon unsuccessful subscriptions.
Calculation Period - 2026-06-12 04:00 (UTC) Onwards
Subscription closes and token allocation calculation begins.
Final Token Distribution - Exact Timing To Be Confirmed (TBC):
If successful, your final token allocation will be calculated and the corresponding USDC will be deducted from your already-locked USDC amount. Once deducted, your SPCXx and USDC tokens will both be transferred to your Binance Wallet.
Note that the above timeline is subject to changes. If there are changes to listing dates or due to other circumstances, the timeline may be adjusted.
Subscription Details:
Token Received: xStocks’ SpaceX Token (SPCXx)
Minimum Subscription Amount: 100 USDC
Indicative Price Per Token: 135 USDC (excluding fees)
Underwriting Fees: 5%
Implied Valuation: $1.75 Trillion
Supported Subscription Token: USDC
This subscription adopts the Binance Wallet Alpha Points tiered quota system. The maximum quota for each user is determined based on their Alpha Points balance, as follows:
Alpha Points > 0: Quota of 20,000 USDC
Alpha Points > 40: Quota of 100,000 USDC
Alpha Points > 100: Quota of 200,000 USDC
Alpha Points > 200: Quota of 500,000 USDC
First Project: SPCXx IPO Tokenized securities
The SPCXx IPO will be the first project under the Binance Wallet IPO Campaign and will be made available to eligible users, such that they can submit subscription applications for a chance to be allocated SpaceX tokenized securities.
The prices displayed during the campaign period are only for reference.
The final offering price will be determined after the subscription period ends by the issuer and the underwriters, based on market demand, valuation levels, and issuance arrangements.
Again, to be clear, submitting a subscription application does not guarantee final allocation.
What Will Users Receive After Allocation Is Completed:
Users who are successful in their subscription applications will receive SPCXx (SpaceX tokenized securities via xStocks).
SPCXx is a tokenized asset issued by Backed (via xStocks), designed to provide holders with exposure to the price performance related to the SpaceX IPO.
SPCXx does not represent direct ownership of SpaceX shares and does not constitute ownership of SpaceX stock.
Holders do not enjoy shareholder voting rights, dividend rights, or any other shareholder rights.
How to Participate:
Eligible users may participate in the campaign via the Binance Wallet IPO Campaign page once the campaign is open by applying for a subscription, or click the campaign link to participate (requires opening on a mobile device) :
Binance App > Wallet > Home (Discover) > SPCXx IPO Campaign
Users must complete applicable identity verification and compliance requirements, where applicable, and meet the participation conditions displayed on the campaign page.
Due to regulatory requirements and regional restrictions, users from certain countries or regions may not be able to participate in this campaign.
Allocation Mechanism:
Submitting a subscription application only represents an expression of subscription interest and does not guarantee that the application will receive an allocation of SPCXx.
Allocation results will be determined by the issuer and the underwriters based on market demand and the final allocation mechanism.
Users may receive full allocation, partial allocation, or no allocation.
Binance Wallet does not participate in the final offering price determination.
After allocation is completed:
Users who are successful in their application will receive the corresponding amount of SPCXx;
Any unallocated amount or unused funds will be automatically returned to the user’s wallet;
The specific token distribution and refund timing shall be subject to the announcements on the campaign page.
Underwriting Service Fee:
This issuance has a 5% Underwriting Service Fee.
This fee is charged by the underwriters involved in the issuance and is used to cover underwriting, allocation, issuance, distribution, and other related service costs.
Binance Wallet does not charge any additional underwriting service fee.
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2026-06-11
Note: This announcement was amended on 2026-06-11 to update the Subscription Application Period.
Disclaimer: Tokenised Securities are tokens designed to mirror the price of real-world equities but do not represent actual ownership of the underlying stocks, and holding tokenised securities does not entitle you to any dividends, interest, voting rights, shareholder privileges, or rights offerings. Dividends may be reinvested into the underlying asset, or retained and paid as part of the redemption amount, and that reinvestment or portion of the redemption amount will be net of withholding taxes and may not reflect the economic value of the dividend. Trading tokenised securities involves risks, including actual and potential price deviations from the underlying assets due to market conditions, liquidity, pricing mechanisms, or issuer adjustments. These tokens are intended for speculative trading purposes only and may not reflect real-time stock prices at all times. In particular, the price of these tokens out of traditional market hours may be especially volatile. There may also be particularly high volatility following official listing and the price may remain lower than the final IPO price. Binance Wallet does not guarantee the accuracy, timeliness, or continuity of price tracking. Investing in tokenised securities exposes you to the credit risk of the issuer of the underlying assets and the tokenised stock issuer, as well as a number of the issuers’ counterparties involved, including the tokeniser and custodian of the underlying assets. Please conduct your own research and carefully assess your risk tolerance before. Past performance is not indicative of future results. Tokenised securities are not available in certain jurisdictions, and users are solely responsible for ensuring their use of this product complies with local laws and regulations. For more information, see our Terms of Use and Risk Warning.
Binance Wallet is not endorsed by or affiliated with the issuer of the tokenized securities or the issuer of any underlying securities.
There is no guarantee that the IPO in respect of a share will proceed. Allocation of Tokenised Securities following an initial public offering of the underlying securities is not guaranteed. In the event that Binance Wallet is unable to offer any or all of the tokenised securities listed above, eligible users who have signed up for subscription will receive a full refund of any funds pledged in connection with this campaign.