Key facts
- Binance is offering trading for over 7,000 U.S. stocks and ETFs to non-U.S. users.
- Trades for U.S. stocks and ETFs on Binance will settle in USDC.
- Binance plans to tokenize equities into digital assets.
- Binance's NFT marketplace will close on August 13, 2024.
- Users must withdraw transferable NFTs from Binance by July 3, 2024.
- Kraken's parent company, Payward, is launching xStocks for tokenized IPO access.
- xStocks aims to provide retail investors with IPO access at the offering price.
- Moomoo is launching advanced trading tools for retail crypto investors.
- Moomoo U.S. has expanded its crypto services to Texas.
- Bitget now accepts tokenized stocks and ETFs as collateral for USDT-M futures.
- Tether transferred $500 million USDT to Binance.
- MEXC ranks first globally in silver futures liquidity per TokenInsight.
Cryptocurrency exchanges are broadening their services to encompass traditional financial markets and enhance trading capabilities for both retail and institutional clients. Binance has launched trading for over 7,000 U.S. stocks and Exchange Traded Funds (ETFs) exclusively for its non-U.S. user base. This new offering permits fractional share purchases with a minimum investment of $5, and all trades will be settled using the USDC stablecoin. The exchange plans to further tokenize these equities into digital assets. Binance is also closing its NFT marketplace on August 13, 2024, with users needing to withdraw transferable NFTs by July 3; non-transferable NFTs will be represented by PDF certificates from Binance Academy, and NFT support will transition to the self-custodial Binance Wallet.
Kraken's parent company, Payward Services, is introducing xStocks, a program designed to provide eligible users with tokenized access to U.S. IPO shares before they become publicly available. This initiative aims to bridge the allocation gap for retail investors by offering exposure at the initial offering price, with tokenized shares backed 1:1 by the underlying stock held in regulated custody. This service is expected to be available to retail investors in over 100 countries.
Moomoo is enhancing its platform by offering advanced trading tools for retail cryptocurrency investors, including sophisticated charting, real-time analytics, and risk management features. The platform also introduces a no-code algorithm builder to empower users in developing trading strategies. Moomoo U.S. has expanded its cryptocurrency trading services, now available in Texas, bringing its total to five states, with access to 32 cryptocurrencies and zero-commission trades. Additionally, Moomoo launched API Skills, allowing users to connect AI agents for strategy development and aims to reduce settlement times for crypto orders, while also adding crypto wallets and staking.
In other developments, crypto exchange Bitget has begun accepting tokenized versions of major stocks like Apple, Tesla, and Nvidia, along with 12 other stocks and ETFs, as collateral for its USDT-M futures. This integration, part of Bitget's Unified Trading Account system, is intended to boost capital efficiency and flexibility for traders managing futures positions while retaining exposure to traditional market-linked products. Separately, Tether has transferred $500 million worth of USDT stablecoins to Binance from a Tether-controlled wallet. MEXC has been recognized by TokenInsight as the top global exchange for silver futures liquidity, based on metrics such as order book depth and trading slippage.