Binance Stock-Linked Products Top $1 Billion in AUM One Month After Launch
Summary
- Global cryptocurrency exchange Binance said assets under management (AUM) for its stock-linked products surpassed $1 billion within one month.
- Binance launched a trading service for eligible users outside the US that offers US stocks and exchange-traded funds (ETFs), supporting more than 7,000 US-listed stocks and ETFs.
- The service charges no commissions, and Binance is expanding into traditional finance (TradFi) assets such as stocks and ETFs.
Forecast Trend Report by Period
Binance said assets under management for its stock-linked products have surpassed $1 billion.
BlockBeats reported on July 1 that Binance announced the milestone that day. The exchange said the figure reflects growing demand from users seeking seamless access to global markets on a single platform.
The products reached the mark just one month after launch. In early June, Binance introduced trading in US stocks and exchange-traded funds for eligible users outside the US.
The service supports trading in more than 7,000 US-listed stocks and ETFs. It also offers zero trading commissions.
Binance is expanding beyond cryptocurrency exchange services into traditional finance, or TradFi, assets such as stocks and ETFs.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul