Binance has activated its tokenized-equity layer, converting live stock positions on its brokerage platform into BNB Chain tokens tradable around the clock. The first five bStocks include Nvidia, Tesla, Circle, Micron, and Sandisk.
Binance has moved its tokenized-equity program from announcement to live product, introducing bStocks, a first batch of five US equities that eligible users can convert into on-chain tokens and trade around the clock, seven days a week.
The exchange posted the launch Wednesday to its official account. Five stocks are available at launch: Nvidia (NVDAB), Tesla (TSLAB), Circle (CRCLB), Micron (MUB), and Sandisk (SNDKB).
Users who hold the underlying equities through Binance’s brokerage platform can convert at a 1:1 ratio into the corresponding bStock tokens and switch back without lock-up periods, minimum holding requirements, or conversion fees. Binance said redemptions back into direct stock positions settle during regular market trading hours; on-chain settlements complete immediately. Prices track the underlying via oracle feeds.
Binance Brokerage Stack
The launch completes a product arc that Converge covered in early June, when Binance opened zero-commission access to more than 7,000 US-listed stocks and ETFs to eligible users outside the United States and said a tokenization layer on BNB Chain would follow within weeks. bStocks is that layer.
The stock-trading platform lets users buy and sell equities directly through Nest Trading Limited, the Abu Dhabi Global Market-regulated introducing broker, with Alpaca Securities handling clearing, custody, dividends, and corporate actions. bStocks lives one step downstream: it lets users take the shares they already hold on that platform and tokenize them.
That design is different from most competitors’ approaches. The Binance architecture gives users the conversion function themselves rather than pre-issuing a fixed set of issuer-defined tokens.
The tokens are issued by BTech Holdings Limited, a Binance Group affiliate, and represent rights tied to the underlying securities without conferring direct share ownership in the listed companies, a legal structure that sidesteps the prospectus requirements that shuttered Binance’s first synthetic stock attempt in 2021.
Self-custody support extends the product beyond the Binance platform itself. Users can withdraw bStocks to Trust Wallet, Binance Wallet, hardware wallets, or other compatible addresses, and deploy the assets in supported decentralized finance applications.
On-Chain Equities Race
The bStocks launch arrives in a crowded week for tokenized-equity infrastructure. Kraken’s affiliated entity Payward Services opened tokenized US IPO allocations at offering price across more than 100 countries through its xStocks framework, offering retail investors direct participation in US listings that were previously accessible only through institutional channels. Coinbase has committed to an “everything exchange” model that includes tokenized stocks alongside crypto and prediction-market products.
Traditional market infrastructure has begun to move in parallel. The New York Stock Exchange filed a proposal in early 2026 to allow eligible tokenized securities to trade alongside conventional shares under the same ticker symbols, rights, and privileges. The proposal would fold tokenization into existing exchange plumbing rather than building a separate rail.
The competitive pressure concentrates on the same distribution problem: non-US retail investors with existing crypto balances face friction when accessing US equity markets through conventional brokerage channels. Binance’s model lets a user fund a stock purchase in USDC or USDT, convert the resulting share into a BNB Chain token, and trade it over the weekend, all without leaving a crypto-native interface.
Ondo Finance’s tokenized-stock book has grown into the fastest-expanding asset class on Ethereum, with institutional demand from emerging-market asset allocators pulling the segment toward longer holding periods and DeFi collateral use cases, rather than short-term trading.
Binance co-CEO Richard Teng has framed the broader equity product as central to serving “the next 3 billion users,” telling Fortune in an exclusive interview at launch that US equities are “well over half of the global market” but remain “costly and difficult to access for investors in many overseas markets.” Additional assets and DeFi integrations are expected in subsequent batches, though Binance has not specified a timeline.
