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Binance has introduced bStocks, a new offering that allows users to trade tokenized U.S. stocks around the clock. According to the exchange, each bStock is backed on a 1:1 basis by a corresponding U.S. share held by a regulated custodian.
The company said bStocks are issued by BTech Holdings Limited, a Binance Group affiliate, and are the first tokenized securities to be admitted to the FSRA Official List following the approval of the issuer's prospectuses by the Abu Dhabi Global Market (ADGM) Financial Services Authority.
Binance noted that bStocks are classified as Certificates representing certain Financial Instruments under paragraph 92 of Schedule 1 to the FSMR. As a result, holders gain exposure to the underlying securities held by the issuer rather than direct ownership of the listed companies' shares.
Users can trade bStocks on Binance's spot market 24/7 and convert them instantly between eligible stocks and bStocks at a 1:1 ratio without conversion fees. The exchange added that the assets' backing is publicly verifiable and that users can withdraw bStocks to compatible BNB Smart Chain wallets for self-custody.
Built on BNB Smart Chain using the BEP-677 token standard, bStocks can also be integrated into DeFi applications across the network. Corporate actions, including dividends and stock splits, will be processed automatically through a multiplier mechanism. Dividends will be reinvested on-chain after the deduction of applicable U.S. withholding taxes, which Binance said currently stand at 30%.
According to Binance, transactions settle in under one second, while users can gain access to tokenized U.S. stock exposure with investments starting from as little as $5. :::
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