The report finds that 30% of Gen Z investors began investing during university or early adulthood, double the 15% rate for Millennials and well above 9% for Gen X. Among users who have adopted all three products, 48% are Gen Z. Gen Z's share of newly onboarded TradFi users has risen steadily from 41% in January to 47% in July, suggesting momentum rather than saturation. The commentary further highlights that more than 90% of TradFi users in every generation are based in emerging markets, with Gen Z at 95%. Within that base, 13% of Binance Direct Stocks users are Gen Z investors from emerging markets holding less than US$2,000 in equity assets, a segment the report identifies as 'Next Gen Users'. Despite holding the lowest investment capital per user, Gen Z has contributed approximately US$80B of TradFi volume year-to-date, compounding at 24% month-over-month.