Written by: Jeff John Roberts, Fortune

Translated by: Techub News

The world's largest cryptocurrency exchange, Binance, announced on Monday that platform users can now trade over 7,000 U.S. stocks and ETFs. The company also disclosed an upcoming stock tokenization program that allows users to convert their holdings into a cryptocurrency form. This move is an important step in Binance's strategic blueprint to build a "multi-asset financial super application."

Binance co-CEO Richard Teng stated in an exclusive interview with Fortune that while U.S. stocks account for a significant share of the global stock market, overseas investors face high costs and barriers to entry. He pointed out that Binance intends to overcome this investment dilemma by providing non-U.S. users with a commission-free trading and fractional trading option starting from $5.

Binance's U.S. stock trading will be facilitated by brokerage firm Nest Trading, while New York-based Alpaca will act as the custodian to assist with dividend distribution and corporate actions. Users can settle transactions using stablecoins like USDC and USDT, or a select few designated cryptocurrencies such as BNB.

Teng emphasized that this is not Binance's first foray into non-crypto assets. As the world's largest cryptocurrency exchange, Binance has long offered derivatives such as gold, energy, and pre-IPO stocks, providing users with diversified asset exposure.

From a macro perspective, Binance's entry into the U.S. stock market is the latest evidence of the integration trend between the crypto space and traditional financial systems. Recently, its competitor Coinbase has also launched stock trading services, aiming to create a "one-stop trading platform." Meanwhile, traditional Wall Street institutions like BlackRock have also introduced investment products such as government bonds through tokenized packaging.

Binance's Global Tokenized Stock Strategic Layout

While announcing the U.S. stock trading plan, Binance simultaneously revealed the "bStocks" tokenized stock innovation layout. Teng explained that this program allows users to convert their holding stocks into digital tokens and generate a corresponding on-chain version of the asset on the BNB Chain.

Competitors like Kraken and Robinhood have launched similar products over the past year. The Binance version is expected to go live in a few weeks, and its differentiated feature is significant: the platform promises to grant users the authority to initiate the tokenization process independently.

At first glance, the concept of tokenized stocks may seem novel or even redundant. However, compared to traditional U.S. stock trading, this model has multiple efficiency advantages. The most notable highlight is the T+0 instant settlement mechanism enabled by blockchain. Traditional processes rely on Wall Street intermediaries for clearing and settlement, often taking more than one business day.

Despite concerns from some that tokenized stocks may pose risks and uncertainties in this critical area of the U.S. stock market, the concept is rapidly gaining traction and attracting market attention. The New York Stock Exchange and Nasdaq have both announced plans to adopt related technology.

Binance stated in a statement that its bStocks product will serve as a native bridge connecting traditional stock ownership with globally programmable, 24/7 tokenized assets. This product aims to unlock liquidity and utility for real-world equity both within and outside the Binance ecosystem, achieve continuous access on-chain, and support potential DeFi application scenarios such as lending and liquidity provision.

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