finance
Binance to Let Users Trade Over 7,000 U.S. Stocks and ETFs Using Crypto
Binance announced Monday it will let non-U.S. customers trade more than 7,000 U.S. stocks and ETFs. The exchange also plans to let users convert those holdings into tokenized assets called bStocks on the BNB blockchain.
Jun 1, 5:52 AM·1m read2 sources
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U.S. stocks and ETFs. The exchange also said it will soon allow customers to convert the stocks they hold into crypto-style digital assets called bStocks on the BNB blockchain.
The share purchases will be arranged by broker dealer Nest Trading. A New York-based firm, Alpaca, will handle custody and facilitate dividend payments and corporate actions. Customers can buy the stocks using the stablecoins USDC or USDT, or with BNB.
U.S. stocks represent well over half of the global equities market, yet many overseas buyers face high costs and friction.
U.S. Customers and fractional share purchases starting at $5. Teng noted that Binance already offers derivatives tied to gold, petrochemicals and pre-IPO shares. The new bStocks feature will let users create tokenized versions of equities they purchase, with customers able to start the tokenization process themselves.
BStocks are scheduled to become available in coming weeks. ” Trades of blockchain-based stocks can settle almost instantly, compared with the conventional settlement process that relies on intermediaries and can take a day or more. Kraken and Robinhood have launched similar tokenized stock offerings over the past year.
The New York Stock Exchange and Nasdaq have announced plans to incorporate tokenized stock technology.
