Binance is moving deeper into traditional finance, launching options trading on more than 1,000 US stocks and exchange-traded funds for eligible users outside the United States. The exchange says the product will be provided through its Abu Dhabi-regulated broker-dealer, Nest Trading, with orders routed to US-registered Alpaca Securities for execution, clearing, settlement, and custody.
The offering builds on Binance’s existing equities lineup, which includes more than 7,000 US stocks and ETFs. Binance also emphasized that these are physically settled options—meaning users who exercise receive or deliver the underlying shares—rather than equity-linked perpetual futures.
Key takeaways
- Binance will offer options on 1,000+ US stocks and ETFs to eligible non-US users via Nest Trading.
- Execution, clearing, settlement, and custody will be handled through orders routed to Alpaca Securities.
- The options are physically settled, distinguishing them from perpetual futures structures.
- Binance points to rapidly growing TradFi-related activity, citing a sharp rise in TradFi perpetual futures volume in August.
- Broader exchange competition is accelerating tokenized equities access across major venues, including Coinbase, Kraken, and Robinhood.
How Binance’s options rollout is structured
Rather than positioning options as a native onchain product, Binance is integrating it into a conventional market plumbing setup. According to Binance, the options will be offered through Nest Trading, its Abu Dhabi-regulated broker-dealer. When users place trades, Binance routes those orders to Alpaca Securities, which is registered in the United States and will manage execution and post-trade operations.
This matters for readers trying to understand what is actually being delivered on the Binance platform. The exchange is not describing a new settlement model or new clearing network; instead, it is extending access to standard equity options while keeping the core regulatory and operational workflow within established TradFi channels.
Physically settled options, not perpetuals
Binance explicitly contrasts the new product with its equity-linked perpetual futures. Unlike perpetual contracts, physically settled options are tied to the underlying asset delivery. If a user exercises, they receive or deliver the corresponding shares.
For traders, that distinction affects both risk management and what happens at expiration. Perpetual futures generally avoid physical delivery mechanics, while physically settled options introduce share-based outcomes if users exercise. In practice, this may better align with strategies that require actual stock exposure or stock-based collateral considerations rather than purely derivatives exposure.
Why the timing: Binance cites surging TradFi trading activity
Binance attributes the rollout to accelerating engagement in traditional financial products on its platform. The exchange specifically cited TradFi perpetual futures volume reaching about $433 billion in August—roughly 15 times January’s total.
This is an important framing because it suggests Binance is responding to measurable demand rather than launching options as a speculative add-on. Still, readers should note that this figure relates to TradFi perpetual futures volume, not necessarily options volume. The company’s argument is that overall interest in TradFi instruments on the platform has surged, creating an environment where options products can find an audience.
Tokenized equities keep expanding across exchanges
Binance’s move sits within a broader push by exchanges and brokerages toward tokenized and onchain-wrapped equity exposure. As crypto venues expand their catalog of TradFi-adjacent products, the onchain stock market has grown quickly over the past year, according to RWA.xyz.
RWA.xyz data shows tokenized stocks have around $2.6 billion in distributed value, up from roughly $346 million a year earlier. It also reports that monthly transfer volume rose 93% over the past 30 days to $25.1 billion, while the number of holders increased 157% to nearly 2.5 million. These figures reflect both increased throughput and broader participation—two conditions that often make additional derivative products more feasible for platforms.
Last week, Coinbase brought its B20 tokenized equities to Base, offering eligible non-US users 24/7 access to onchain versions of well-known US-listed companies including Apple, Nvidia, Meta, and Alphabet. Coinbase also stated that the assets can be used in DeFi contexts such as trading and collateralized borrowing.
Separately, Kraken expanded equities access in August by opening more than 7,000 US-listed stocks for eligible European customers, placing them alongside its tokenized xStocks offerings. In July, Robinhood launched “Robinhood Chain” and introduced a new generation of Stock Tokens available to eligible users across more than 120 countries, highlighting how large brokerages are extending beyond traditional order-book access toward token-based settlement rails.
Taken together, these developments suggest a competitive landscape where venues are layering new TradFi instruments over blockchain-adjacent infrastructure. Binance’s options launch appears to be a continuation of that pattern—moving from spot-style equity access toward derivatives that can serve more complex hedging and exposure strategies.
What to watch next
As Binance rolls out physically settled options for non-US eligible users, traders and investors should pay attention to how order routing and settlement behave in practice on the platform—especially around exercise, delivery workflows, and any product-specific eligibility constraints. Longer term, the key question is whether demand for derivatives on these platforms scales at the same pace as tokenized equity adoption and TradFi perpetual futures activity.
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