Binance announced its entry into the U.S. stocks and ETFs trading market on Monday, with overseas users set to gain access to more than 7,000 U.S.-listed stocks and exchange-traded funds.

Binance revealed its plans to enable customers to convert their stocks into crypto-style digital assets, a significant stride towards its aspiration of becoming a multi-asset financial super app. Binance’s co-CEO Richard Teng told Fortune that this initiative aims to minimize the cost and complexity of purchasing U.S. stocks, especially for foreign customers.

Through collaborations with broker-dealer Nest Trading and New York-based firm Alpaca, Binance would provide zero-commission stocks and fractional share purchases starting at $5 to non-U.S. customers. They will have the option to make purchases using stablecoins USDC (CRYPTO: USDC) or USDT (CRYPTO: USDT), or other digital currencies, including Binance’s own BNB.

The company has also unveiled an ambitious plan for “bStocks” that will allow users to tokenize the equities they buy, creating a synthetic version of certain stocks on the BNB blockchain.

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Wall Street Embraces Tokenization

Binance’s move into stock trading is in line with the increasing overlap between crypto and traditional finance. This development also comes in the wake of the Securities and Exchange Commission’s (SEC) announcement to launch a framework for trading tokenized versions of popular Wall Street-listed stocks. The SEC’s “innovation exemption” allows for the blockchain version of stocks, a move that aligns with SEC Chairman Paul Atkins‘ Project Crypto initiative.

Moreover, the trend of tokenizing stocks has been gaining traction, with major firms like BlackRock Inc. (NYSE:BLK) and JPMorgan Chase & Co. (NYSE:JPM) rushing into this space. Crypto companies such as Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD), Circle (NYSE:CRCL), Bullish and Strategy (NASDAQ:MSTR) are also shifting their focus to become infrastructure businesses, seeking recurring revenue tied to financial infrastructure, settlement networks, and tokenized assets.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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