Binance Launches Options on Over 1,000 US Stocks and ETFs as TradFi Expansion Continues
Key Takeaways
- •Binance now offers physically settled options on more than 1,000 US stocks and ETFs to eligible non-US users.
- •The product is delivered through Abu Dhabi-regulated Nest Trading, with US-registered Alpaca Securities handling execution, clearing, settlement and custody.
- •Binance's TradFi perpetual futures volume reached approximately $433 billion in August, roughly 15 times January's total.
- •The tokenized stock market has grown to about $2.6 billion in distributed value, up from roughly $346 million a year earlier, per RWA.xyz data.
- •Coinbase, Kraken and Robinhood have each recently expanded equity offerings, including tokenized stocks and onchain access for eligible non-US or international users.
Binance is deepening its push into traditional finance with the launch of options trading on more than 1,000 US stocks and exchange-traded funds for eligible users outside the United States.
The options will be offered through Binance's Abu Dhabi-regulated broker-dealer, Nest Trading, with orders routed to US-registered Alpaca Securities for execution, clearing, settlement and custody. The offshore structure reflects how major crypto exchanges have built out TradFi offerings for non-US users first, routing activity through licensed intermediaries in jurisdictions such as the UAE while US users remain excluded from the products.
The new product builds on Binance's existing equities offering of more than 7,000 US stocks and ETFs, adding to a growing lineup of traditional financial products on the platform.
Unlike equity-linked perpetual futures, the options are physically settled, meaning users who exercise them receive or deliver the underlying shares. Physical settlement distinguishes the product from the cash-settled derivatives that dominate crypto venues and aligns it more closely with conventional listed options markets.
According to Binance, the expansion comes as trading in traditional financial products on the platform has accelerated, with TradFi perpetual futures volume reaching approximately $433 billion in August — roughly 15 times January's total. The product rollout is also unfolding amid a shifting US regulatory environment for digital asset platforms, though Binance's TradFi offerings remain limited to eligible non-US users.
Related: Binance says employees questioned in UAE cleared and released
Tokenized stock market surges as exchanges expand offerings
As crypto exchanges and traditional brokerages expand into tokenized equities, the onchain stock market has grown sharply over the past year. The trend means retail users increasingly have multiple venues — centralized exchanges, onchain protocols and traditional brokerages — through which to gain exposure to US equities.
Tokenized stocks now carry about $2.6 billion in distributed value, up from roughly $346 million at the same time last year, according to RWA.xyz data. Monthly transfer volume has climbed 93% over the past 30 days to $25.1 billion, while the number of holders has surged 157% to nearly 2.5 million.
Last week, Coinbase brought its B20 tokenized equities to Base, giving eligible non-US users 24/7 access to onchain versions of stocks including Apple, Nvidia, Meta and Alphabet. The assets can also be integrated into DeFi protocols for uses such as trading and collateralized borrowing.
Kraken also pushed deeper into equities in August, opening access to more than 7,000 US-listed stocks for eligible European customers and placing them alongside its growing lineup of tokenized xStocks, according to the company's announcement.
In July, US online brokerage Robinhood launched Robinhood Chain alongside a new generation of Stock Tokens available to eligible users in more than 120 countries.
