CryptoSlate
Binance has folded physically settled options on more than 1,000 US stocks and ETFs into the same account where users already trade crypto and several forms of equity exposure. Orders placed through Binance are introduced by Nest Trading Limited, which routes them to Alpaca Securities LLC for execution, clearing, and settlement; Alpaca also custodies any shares delivered when an option is exercised. Eligible customers outside the US can buy calls and puts with a maximum loss capped at the premium, but they must file an exercise instruction through Binance up to 30 minutes before expiry or risk auto-liquidation before the close. Binance sits as the customer-facing access point while two regulated partners carry the operational weight.
Why it matters
The structure is the story. Binance owns product discovery, the customer relationship, and the multi-asset narrative; Nest Trading introduces orders under Abu Dhabi Global Market financial services permission 260000, and Alpaca, an SEC- and FINRA-approved broker, runs execution, clearing, and custody. That separation lets Binance distribute regulated US securities without becoming the executing broker itself, getting most of the strategic benefit of a securities super-app without the full regulatory footprint.
Binance's head of exchange and trading, Shunyet Jan, called stock options an "important next step" toward a "fuller multi-asset platform." The exchange put numbers around the appetite it has already seen: equity-linked perpetuals generated about $342.9 billion in volume during August, accounting for roughly 79% of Binance's TradFi perpetual activity and growing more than 800-fold from January.
Market impact
The launch adds a fourth route to equity exposure inside one Binance account, alongside direct US stocks (real shares via a US clearing broker), bStocks (tokenized securities with no direct company ownership), and equity-linked perpetuals (derivative exposure with no underlying delivery).
Frequently asked questions
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Who actually executes the options trades Binance shows users?
Nest Trading Limited, registered under Abu Dhabi Global Market financial services permission 260000, introduces the orders. Alpaca Securities LLC, an SEC- and FINRA-approved broker, then executes, clears, and settles, and custodies any shares delivered on exercise.
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Do in-the-money options on Binance auto-exercise at expiry?
No. Binance requires an exercise instruction filed through its platform up to 30 minutes before expiry. Without that instruction, the position is subject to best-efforts auto-liquidation before the close, and may expire worthless.
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How much can a retail buyer lose on these options?
For long calls and puts, maximum loss is capped at the premium paid. Binance's defined-loss description does not extend to option-writing strategies.
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How does this fit with Binance's other equity products?
Options are a fourth route inside one Binance account. Direct US stocks give real share ownership through a US clearing broker, bStocks are tokenized securities without direct company ownership, equity-linked perps are derivative exposure, and stock options deliver underlying shares on exercise.
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How big is Binance's existing TradFi perpetual demand?
Equity-linked perpetuals generated about $342.9 billion in volume during August, roughly 79% of Binance's TradFi perpetual activity, and grew more than 800-fold from January, according to the company's own figures.
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