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FollowingBinance further expanded its traditional financial field and launched options trading on more than 1000 U.S. stocks and exchange-traded funds (ETFs) for eligible users in non-U.S. regions. These options will be provided through Binance's regulated broker-dealer in Abu Dhabi, Nest Trading, and orders will be routed to US-registered Alpaca Securities for execution, clearing, settlement and custody. The move is based on Binance's existing stock trading services for more than 7000 U.S. stocks and ETFs, further enriching the traditional financial product line provided by the platform. Unlike equity-linked perpetual contracts, these options are physically delivered, that is, the exercising user will obtain or deliver the corresponding underlying stock. According to Binance, the expansion comes as trading volume of traditional financial products on the platform accelerates, with TradFi perpetual contract transactions reaching approximately US$433 billion in August, approximately 15 times the total in January.
The tokenized stock market surges as exchanges expand products
The on-chain stock market has expanded sharply over the past year as cryptocurrency exchanges and traditional brokers enter the tokenized stock space. According to RWA.xyz, the total value of tokenized stocks is currently approximately US$2.6 billion, compared with approximately US$346 million in the same period last year. In the past 30 days, monthly transfers have also increased 93% to US$25.1 billion, and the number of holders has surged 157% to nearly 2.5 million.
Value of tokenized shares. Source: RWA.xyz
Last week, Coinbase introduced its B20 tokenized shares to the Base chain, providing eligible non-U.S. users with on-chain versions of stocks such as Apple, Nvidia, Meta and Alphabet for round-the-clock trading. These assets can also be integrated into the DeFi protocol for purposes such as transactions and mortgage lending.
Kraken also delved further into the equity space in August, opening up trading rights on more than 7000 U.S. listed stocks to eligible European clients and tying them with the growing tokenized xStocks product line.
In July, American online broker Robinhood launched Robinhood Chain and launched a new generation of stock tokens for eligible users in more than 120 countries.
