Binance Stock Products Top $1 Billion in Assets One Month After Launch
Summary
- Global cryptocurrency exchange Binance said assets under management (AUM) for its stock products have surpassed $1 billion.
- The AUM milestone came one month after the launch of its U.S. stock and ETF trading service.
- The service offers commission-free trading in more than 7,000 U.S.-listed stocks and ETFs, as Binance expands into traditional finance (TradFi) assets.
Forecast Trend Report by Period
Binance said assets under management for its stock products have surpassed $1 billion.
BlockBeats reported on July 1 that Binance announced the products crossed the $1 billion mark that day. The exchange said the milestone reflects rising demand from users seeking seamless access to global markets on a single platform.
The milestone comes one month after the service launched. Binance introduced trading in U.S. stocks and exchange-traded funds early in June for eligible users outside the U.S.
The service supports trading in more than 7,000 U.S.-listed stocks and ETFs. Zero trading commissions are one of its key features.
Binance is expanding beyond cryptocurrency exchange services into traditional finance, or TradFi, assets such as stocks and ETFs.
