Binance’s new US equities trading product just did in nine days what the entire tokenized equity market hasn’t managed in years: make stock trading on a crypto platform feel like more than a novelty.
The product, which launched on June 1, averaged roughly $143 million in daily trading volume across its first nine days. Total turnover crossed the $1 billion mark in that span. For context, the peak weekday volume across the tokenized equity market, led by players like Backed Finance’s xStocks and Ondo Finance, sits at just $35 to $40 million.
What Binance actually built
The offering gives eligible non-US users access to real fractional shares of over 7,000 US-listed stocks and ETFs. That’s actual equity ownership, not a synthetic wrapper pretending to be Apple stock.
The infrastructure runs through a partnership with Alpaca, facilitated by Binance’s ADGM-registered broker-dealer. ADGM is Abu Dhabi’s international financial center, which provides the regulatory scaffolding that makes this more than a DeFi experiment.
