Tuesday, 02 January 2024 12:17 GMT

Binance Opens US Stocks To All Users


(MENAFN- AzerNews) by Alimat Aliyeva

Binance is rolling out zero-commission trading for over 7,000 U.S. equities and ETFs for users outside the United States, co-CEO Richard Teng told Fortune on Monday. This move is part of Binance's broader ambition to become a“multi-asset financial super app,” and the company also plans to allow users to convert the stocks they own into crypto-style digital assets, AzerNEWS reports, citing foreign media.

Share transactions on the platform will be facilitated by broker-dealer Nest Trading, while New York-based Alpaca will handle custody, corporate actions, and dividend payments. Customers can purchase stocks using the stablecoins USDC or USDT, as well as other digital currencies, including Binance's own BNB token.

Users will be able to buy fractional shares starting at $5 with stablecoins and select cryptocurrencies, making stock investing more accessible to smaller investors. Binance has also announced plans to introduce 24/7 trading of tokenized stocks, called “bStocks,” in the coming weeks, blurring the lines between traditional equity markets and the crypto world.

Interestingly, experts note that this move could reshape how retail investors interact with both stocks and digital assets. By combining traditional equities with blockchain technology, Binance is testing the waters for a future where stocks could be traded as seamlessly as cryptocurrencies, potentially attracting a new generation of investors seeking both convenience and innovation.

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