Binance has launched physical delivery options for over 1,000 US stocks and ETFs for eligible non-US users through Abu Dhabi-regulated broker Nest Trading Limited; US users are not included in the service.

The service is provided by Nest Trading Limited for brokerage access, while Alpaca Securities is responsible for order execution, clearing, settlement, and custody of the underlying securities. The products are not directly held by Binance but are executed through regulated brokers and US securities infrastructure.

Physical delivery means that when options expire and are exercised, the buyer will receive the corresponding shares or ETF units, while the seller of put options must deliver the underlying securities; this differs from cash settlement based solely on the price difference at expiration for index or contract-for-difference options.

The options cover a "selected" range of US stocks and ETFs, not all securities listed in the US. Binance stated that users can trade the related options within their existing multi-asset accounts, allowing stablecoins, crypto assets, traditional financial perpetual contracts, and custodial US stock risk exposure to be presented on the same platform.

Binance has previously launched over 7,000 US stock and ETF products and disclosed that its TradFi perpetual contract trading volume reached approximately $433.4 billion in August, a nearly 15-fold increase from January's $29.5 billion. The launch of these options is the latest step in its expansion from crypto spot and perpetual contracts to global securities trading access.

In market mechanics, buyers are international traders looking to manage crypto assets, stablecoin, and US stock option risks within the same account; sellers are market makers providing implied volatility quotes, inventory management, and delta hedging. Fund flows are directed through regulated brokerage channels, securities custody, options clearing, cross-market hedging, and stablecoin settlement; traditional brokers face competition for user access, but Binance is still constrained by regional licensing, KYC, US securities custody, and compliance boundaries across different jurisdictions.

Source: Public Information