Binance to launch 7,000 tokenized US stocks as bStocks
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- Binance plans to launch bStocks — tokenized securities representing about 7,000 US-listed stocks and ETFs — in the coming weeks as part of its push to become a multi-asset platform.
- The bStocks will be issued by BTECH Holdings LTD, a Special Purpose Vehicle registered in the ADGM, and the launch is pending regulatory approval from Ontario's Financial Services Regulatory Authority (FSRA).
- Purchases of the tokenized equities will be made primarily in Circle's USDC, with additional support for BNB, Tether's USDT, World Liberty Financial's USD1, and United Stables' U; sale proceeds will be returned in USDC.
- Eligible users will be able to earn passive income by lending their stock holdings through Binance's Fully Paid Securities Lending (FPSL) program.
- Kraken announced in April 2025 that it had launched 11,000 US-listed stocks and ETFs with commission-free trading as part of a phased national rollout, while Vienna-based Bitpanda expanded its offering to roughly 10,000 stocks and ETFs in January.
- Bitget began April with a proxy offering tied to the pre-IPO phase of SpaceX, signaling a broader race among crypto exchanges to bring traditional equity exposure to their platforms.
Why it matters: Binance's bStocks would let its users buy fractions of thousands of US equities using stablecoins and lend them out for yield, but the entire rollout is gated on a single Ontario regulator's sign-off — meaning retail access hinges on FSRA's timeline, not Binance's. With Kraken already offering 11,000 commission-free US stocks and Bitpanda and Bitget expanding similar products, Binance is entering a crowded field where first-mover advantage in the US is no longer available.
