Richard Teng Pushes Binance Into U.S. Equities
Binance is moving deeper into traditional finance with a plan to offer trading in more than 7,000 U.S. stocks and exchange-traded funds (ETFs), marking one of the company’s largest steps yet beyond crypto.
The world’s biggest digital asset exchange told Fortune that non-U.S. customers will be able to buy American equities with zero commissions. Fractional purchases will start at $5, giving overseas investors a cheaper route into a market that still accounts for more than half of global equity value.
According to the Fortune interview, Binance co-CEO Richard Teng said that buying U.S. shares remains costly and difficult for many investors outside the country. The new service is designed to reduce that friction while expanding Binance’s role as what Teng has described as a “multi-asset financial super app.”
The stock trades will be arranged through broker-dealer Nest Trading. Alpaca, a New York-based brokerage infrastructure firm, will handle custody, dividend payments, and corporate actions.
Customers will be able to buy stocks using USDC, USDT, and a selection of other digital assets, including Binance’s BNB token.
The move is not Binance’s first push into non-crypto markets. The exchange already offers derivatives linked to assets such as gold, petrochemicals, and pre-IPO shares. Still, direct access to thousands of U.S. stocks and ETFs brings Binance closer to mainstream brokerage territory.
It also reflects a wider convergence between crypto platforms and traditional finance. Coinbase has added stock trading as part of its own “everything exchange” strategy. At the same time, Wall Street firms such as Blackrock are bringing products like Treasury bills onto blockchain rails through tokenized wrappers.
Binance is also preparing a second phase of the rollout through tokenized equities, which it calls “bStocks.” The company said the feature will allow users to convert certain stocks they own into digital tokens on BNB Chain.
Tokenized stocks remain an emerging market, but their appeal is clear. Blockchain-based versions of equities can settle far more quickly than traditional trades, which still rely on market intermediaries and standard settlement windows.
Binance said bStocks will create a bridge between traditional stock ownership and programmable, always-on tokenized assets. The company also pointed to potential uses in decentralized finance, including lending and liquidity provision.
The model still faces questions. Tokenized equities must deal with custody, investor rights, corporate actions, and regulatory oversight. Critics have warned that rapid growth could create confusion or risk in U.S. equity markets.
Even so, momentum is building. Nasdaq and the New York Stock Exchange have both signaled interest in using blockchain technology in market infrastructure. Binance’s entry suggests crypto exchanges want to be part of that shift, not just observers of it.
