Binance has launched a new product allowing direct fractional ownership of over 7,000 US-listed stocks and ETFs, averaging $143 million in daily trading volume over its first nine days. Total turnover has already surpassed $1 billion. The product is available to eligible non-US users.
The service was built through a partnership with Alpaca, facilitated by a broker-dealer registered in Abu Dhabi’s ADGM financial center. Daily active traders peaked at 30,700, with total value locked reaching nearly $400 million.
Existing tokenized equity markets, featuring around 200 tokens from firms like Backed Finance and Ondo Finance, see peak weekday volume of only $40 million.
On June 10, Binance added bStocks, tokenizing the real shares for 24/7 on-chain trading while preserving dividend rights. This allows trading of equities like Tesla at any hour and could pave the way for stocks as DeFi collateral.
However, the model's regulatory structure invites scrutiny from multiple jurisdictions, and the new user base’s resilience remains untested by a major market downturn.