Binance is expanding further into traditional markets with physically settled options on more than 1,000 U.S.-listed stocks and exchange-traded funds, adding another brokerage-style product to a platform originally built around cryptocurrency trading.
The options will be offered through Nest Trading Limited, a Binance broker-dealer regulated by the Abu Dhabi Global Market. Nest will act as the introducing broker, while orders are routed to U.S.-registered Alpaca Securities for execution, clearing, settlement and custody. The service will not be available to users in the United States, and unlike crypto derivatives that settle in cash or stablecoins, the new contracts are physically settled, meaning exercising an option results in delivery or receipt of the underlying shares held by Alpaca on behalf of Binance users.
Eligible retail customers will initially be able to buy calls and puts, with the maximum potential loss limited to the premium paid. Binance expects to add more stock options over time. Binance Head of Exchange and Trading Shunyet Jan said: "Stock options are an important next step in Binance's evolution into a fuller multi-asset platform. By adding options on selected U.S. stocks and ETFs, we are expanding the tools available to users who want to participate in equity markets, manage exposure, and access strategies that have historically been offered through traditional brokers — all from one Binance account."
The launch builds on a rapid expansion of Binance's traditional finance products. In June, the exchange introduced access to more than 7,000 U.S.-listed stocks and ETFs for eligible customers outside the United States. Binance also offers bStocks, which provide tokenized exposure to securities, alongside equity-linked perpetual futures and other TradFi perpetual contracts covering assets such as commodities and market indexes.
Trading data helps explain the expansion. Binance said volume in its traditional finance perpetual futures reached approximately $433.4 billion in August, compared with $29.5 billion in January, an increase of nearly 15 times in eight months. Equity-linked perpetuals accounted for most of that activity, reaching about $342.9 billion in August, equal to roughly 79% of Binance's TradFi perpetual trading, compared with just $410.9 million in January.
A snapshot of Binance's 15 largest perpetual contracts by 24-hour volume on August 19 showed about two-thirds were tied to traditional assets, including individual stocks, ETFs and commodities. The list was led by the SANDUSDT perpetual contract tracking SanDisk, which generated approximately $6.87 billion in trading volume over 24 hours, representing about 22% of SanDisk's trading volume on Nasdaq over the same period. Silver's XAGUSDT perpetual recorded approximately $826 million in 24-hour volume. Weekly trading volume for stock-linked perpetual contracts has reportedly increased by roughly 79 times since the beginning of 2026, with Binance accounting for approximately 76% of equity perpetual volume across tracked exchanges in July.
Binance is not alone. Bybit plans to introduce 24/7 options tied to stock perpetuals on September 17, beginning with SpaceX and Nvidia contracts before adding more underlying assets. The models differ: Bybit's contracts are options on perpetuals and settle in USDT, while Binance's options are connected to actual U.S.-listed shares and ETFs and can result in physical delivery. The move shows two routes crypto exchanges are taking into traditional markets, with crypto-native platforms increasingly competing on how many asset classes users can access from one account rather than how many cryptocurrencies an exchange lists.
