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Binance is moving deeper into traditional finance with a plan to let non-U.S. customers trade more than 7,000 U.S. stocks and exchange-traded funds. The rollout marks one of the largest efforts by a crypto exchange to combine equities, stablecoins, and tokenized assets inside a single trading platform.
The company will offer commission-free U.S. stock trading for customers outside the United States, with fractional purchases starting at $5, Binance co-CEO Richard Teng told Fortune. Teng said U.S. equities represent more than half of the global stock market, but many overseas investors still face high costs and procedural barriers when trying to buy them.
The stock trades will be arranged through broker-dealer Nest Trading. Alpaca, a New York-based firm, will handle custody, dividend payments, and corporate actions. Customers will be able to purchase shares using stablecoins such as USDC and USDT, as well as selected digital assets including Binance’s BNB token.
Alongside the stock-trading service, Binance plans to introduce bStocks, a product that will allow users to convert certain equities they hold into digital tokens on BNB Chain. Binance said the tokenized stock service is expected to become available in the coming weeks.
Tokenized stocks are designed to settle faster than traditional equity trades, which typically rely on intermediaries and can take more than a day to finalize. Binance says blockchain-based shares could also be used in decentralized finance applications, including lending and liquidity provision.
The move comes as crypto and traditional finance continue to overlap. Fortune noted that Coinbase has been adding stock trading as part of an “everything exchange” strategy, while BlackRock and other Wall Street firms have moved traditional assets such as Treasury bills into blockchain-based wrappers. Kraken and Robinhood have also launched tokenized stock products.
Binance’s stock rollout matters because it puts one of the world’s largest crypto exchanges more directly into competition with brokerage platforms. If tokenized equities gain traction, they could pressure traditional settlement systems by offering faster transfer, around-the-clock access, and potential DeFi use cases.
The model also raises questions for regulators and market operators. Tokenized shares may improve access for global investors, but they also create new issues around custody, investor rights, liquidity, and how blockchain-based versions of stocks interact with the underlying U.S. equity market.
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