Binance Launches bStocks: 24/7 Tokenized US Equity Trading

Binance opened trading on its first batch of tokenized U.S. stocks Tuesday, letting users convert eligible equities into on-chain assets that trade around the clock.

The exchange said bStocks are backed 1:1 by underlying U.S. securities and issued by Binance Group affiliate BTech Holdings Limited. The tokens represent rights tied to the underlying stocks but do not grant direct share ownership in the listed companies, Binance said in its announcement.

Users who hold stocks through Binance's stock trading platform can convert them into corresponding bStocks at a 1:1 ratio, with no lock-up periods, minimum holding requirements, or conversion fees. They can switch back to stock positions just as easily.

Once converted, the assets trade continuously on Binance's spot market instead of being limited to traditional exchange hours. The company also said users can withdraw bStocks to Trust Wallet, Binance Wallet, hardware wallets, and other compatible addresses, and deploy them in supported decentralized finance applications.

Price tracking relies on oracle feeds that keep token values aligned with the underlying stocks. On-chain settlements complete instantly, while redemptions back into direct stock holdings happen during regular market hours, Binance said.

The rollout follows Binance's June announcement that it would open access to more than 7,000 U.S. stocks and ETFs for users outside the United States. At the time, Binance said tokenized equities known as bStocks would arrive in the coming weeks. That earlier coverage is available here.

At launch, Binance listed tokenized versions of five stocks: Micron (MUB), Sandisk (SNDKB), Circle (CRCLB), Nvidia (NVDAB), and Tesla (TSLAB). Additional assets and integrations will be added later, the exchange said.

Earlier details shared by Binance indicated non-U.S. users could access stocks through the exchange using USDT, USDC, BNB, and selected cryptocurrencies. Brokerage services would be provided by Nest Trading, while Alpaca would handle custody, dividends, and corporate actions.

Binance's launch places it alongside other firms building tokenized real-world assets. Bitget recently introduced its Reality platform with tokenized U.S. stocks and ETFs backed through regulated brokerage arrangements. Coinbase has outlined plans for an "everything exchange" model that includes tokenized equities. The New York Stock Exchange also filed a proposal to allow eligible tokenized securities to trade alongside conventional shares under the same ticker symbols.

For traders, the key difference from earlier tokenized-stock products is the 1:1 conversion path and removal of fees and lock-ups. That makes the product more liquid for arbitrage between the token and the underlying stock during market hours, and allows continuous hedging using crypto-native tools. The self-custody option also means token holders can move positions off exchange, reducing counterparty risk from Binance itself.

The main risk remains the disconnect between 24/7 token trading and the stock's actual trading window. Oracle feeds can drift if liquidity on Binance's spot market thins, creating a gap between the token price and the underlying share price. Redemption only happens during market hours, so a trader stuck in a mispriced token after hours cannot unwind into the stock until the next open.

Binance said it will add more assets and features over time. Which names come next and how quickly the oracle infrastructure scales will determine whether bStocks become a niche tool or a real bridge between traditional equities and on-chain markets.