Binance Launches 1:1 Tokenized Stocks With Self-Custody Option

Binance began offering Bstocks, a new line of fully backed tokenized securities tied to U.S. equities, on June 11. The products are issued by BTech Holdings Limited, a Binance affiliate, and let users trade tokenized versions of publicly listed shares around the clock.

At launch, Binance listed tokenized versions of Circle Internet Group, Micron Technology, Nvidia, Sandisk and Tesla. A tokenized version of SpaceX is planned, pending its expected Nasdaq listing, the company said. Additional listings will roll out over time.

Bstocks merge traditional investing with on-chain portability. Users can hold the securities on Binance or self-custody them through BNB Chain-compatible wallets. The tokens can also be used across supported decentralized finance applications. The exchange said the structure is designed for portability, not just exchange custody.

Users can convert between underlying equities and Bstocks at a 1:1 ratio with no conversion fees. Fractionalized trading starts at $5. The underlying equities are purchased through Binance's broker-dealer entity Nest Trading Limited.

Each Bstock is structured as a certificate over a corresponding U.S. stock or ETF. The assets are backed 1:1 by shares held with a regulated custodian, Binance said. The Financial Services Regulatory Authority of Abu Dhabi Global Market approved the issuer's prospectuses.

"Early demand for stocks trading on Binance shows that users want more flexible ways to access traditional markets," Richard Teng, Binance's co-CEO, said in a statement. "bStocks are the next step in that evolution, bringing real-world assets on-chain while giving users greater portability and self-custody."

As BEP-20 tokens on BNB Chain, Bstocks are compatible with a wide range of wallets and on-chain applications. Corporate actions such as stock splits and dividend adjustments will be processed automatically.

The launch lands inside a fast-growing market for on-chain real-world assets. Tokenized U.S. Treasurys surged from $750 million to $14.8 billion between Jan. 1, 2024, and June 11, 2026. On-chain equities expanded nearly 30-fold, rising from $47.5 million to more than $1.42 billion in the same period.

For a trader used to Binance's direct stock trading through Nest Trading, the tokenized version adds two features worth weighing. Self-custody removes exchange-counterparty risk on holding, provided the user manages their own keys. DeFi composability could let Bstock holders use the token as collateral or in yield protocols. Those come with smart-contract risk and reliance on BNB Chain uptime. The conversion mechanism is only as valuable as its liquidity in a stressed session.

The tokenized SpaceX listing – once the company goes public – could draw interest from traders who have been betting on its pre-IPO valuation through perpetual futures. Those perps, which DefiLlama has begun tracking for Anthropic, OpenAI and Quantinuum, carry no underlying share to back the position. A Bstock route would give a direct claim on the equity.

NVDA, one of the available tickers, carries an Alpha Score of 66 and trades at $204.87, up 2.22% on the day. MU holds a score of 75. Both are in the technology sector.