Binance has launched zero-commission trading on over 7,000 U.S. stocks and ETFs for its non-U.S. users, who can fund purchases with stablecoins. The move is part of a 'super app' strategy and a broader convergence of crypto and traditional finance. Binance also plans to launch 'bStocks,' a feature allowing users to tokenize their shares on the BNB Chain, using regulated partners to avoid past compliance issues.
Binance U.S. stock trading launch
- ▪The launch is part of Binance's strategy to become a "multi-asset financial super app."
- ▪The service offers zero-commission trading with fractional share purchases available from $5
- ▪On June 1, 2026, Binance launched trading in over 7,000 U.S. stocks and ETFs for eligible non-U.S. users
- ▪Customers can fund purchases with stablecoins like USDC and USDT, and other digital assets including BNB
- ▪Binance already offers non-crypto derivatives tied to assets like gold, petrochemicals, and pre-IPO shares
- ▪A minimum platform fee of $0.35 per order is charged, with a 10 basis point fee on trades over $350
bStocks tokenization feature
- ▪The tokenized securities will be issued by BTECH Holdings Ltd, a Special Purpose Vehicle (SPV) registered in the Abu Dhabi Global Market (ADGM)
- ▪Binance plans to launch a feature called "bStocks" in the coming weeks, allowing users to tokenize their equities on the BNB Chain
- ▪bStocks are filed as "certificates representing certain financial instruments" and do not confer direct share ownership
Regulatory compliance challenges
- ▪The U.S. SEC recently delayed a planned "innovation exemption" for tokenized assets, citing concerns about third-party tokens
- ▪Binance's previous stock token product was halted in July 2021 following scrutiny from European regulators over its securities status
- ▪The new 2026 stock offering is structured with regulated partners to provide direct securities ownership, not a derivative product
Custody infrastructure risks
- ▪Eligible users can earn passive income by lending their shares through a Fully Paid Securities Lending program
- ▪New York-based Alpaca Securities provides custody, dividend distribution, and corporate action services for the underlying shares
- ▪Share purchases are routed through Nest Trading Limited, a broker-dealer regulated by the Abu Dhabi Global Market
Tokenized equities market growth
- ▪A forecast by Citi projects the tokenized securities market could reach $5.5 trillion by 2030, with tokenized stocks accounting for $2.6 trillion
- ▪Daily trading volume across tokenized stocks and ETFs recently grew to $1.68 billion, up 39% over the past month
- ▪Binance co-CEO Richard Teng noted that U.S. stocks comprise over half of the global equities market
Competitor tokenization strategies
- ▪Kraken is partnering with Nasdaq to develop tokenized equities for a planned 2027 launch
- ▪Coinbase integrated stock trading as part of its "Everything Exchange" strategy
Story comments
Loading comments…