Binance Adds Physically Settled Options on More Than 1,000 U.S. Stocks and ETFs
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September 1, 2026 11:20 pm
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Binance is no longer treating traditional finance as a side experiment.
The world’s largest crypto exchange has added physically settled options tied to more than 1,000 U.S.-listed stocks and exchange-traded funds for eligible users outside the United States. That is a meaningful step beyond tokenized shares and equity-linked perpetual futures: when one of these options is exercised, the underlying stock or ETF is actually delivered or received.
Cointelegraph reports that the product runs through Nest Trading, Binance’s broker-dealer regulated in Abu Dhabi Global Market. Orders are routed to U.S.-registered Alpaca Securities for execution, clearing, settlement and custody.
The launch covers more than 1,000 U.S.-listed stocks and ETFs and builds on Binance’s existing access to more than 7,000 equities. Unlike equity-linked perpetuals, these contracts settle into the underlying shares when exercised.
Cointelegraph also places the move inside a much larger tokenization trend: distributed value in tokenized stocks has grown to about $2.6 billion, while monthly transfer volume recently reached $25.1 billion.
The service is not available to U.S. users. For eligible customers, however, it puts calls and puts on major American securities inside the same broader ecosystem where they already trade crypto and other market products.
Alpaca’s launch announcement explains how the arrangement works behind the scenes. Binance’s Nest Trading acts as the customer-facing broker, while Alpaca Securities handles execution, clearing, settlement and custody in the United States.
That division lets eligible Binance users trade conventional options without turning the crypto exchange itself into the U.S. clearing firm holding the underlying securities.
The initial menu includes calls and puts on more than 1,000 U.S. stocks and ETFs. Alpaca says the contracts are physically settled, meaning an exercised position delivers or receives the actual shares rather than paying only a cash difference.
The structure gives customers familiar tools for hedging equity exposure, collecting option premium or taking a defined view on a stock’s direction.
Alpaca frames the launch as another piece of Binance’s multi-asset expansion, not a one-off product. It follows the exchange’s rollout of access to more than 7,000 U.S. equities and arrives as crypto platforms compete to keep customers inside one account for both digital assets and traditional markets.
The timing matters. Binance says trading volume in traditional-finance perpetual futures reached roughly $433 billion in August, about 15 times January’s total.
Equity-linked perpetuals accounted for most of that activity, showing that the demand is already moving beyond a small test market.
The growth of equity and commodity linked perpetuals has been the most exciting development in the space in the last year, with RWA perpetuals already growing to >50% of Hyperliquid crypto volumes last month, and aggregate Binance RWA volume at 2x BTC-USDT last month.
High… https://t.co/dsupIbKGRT
— G | Ethena (@gdog97_) August 28, 2026
That surge shows why the exchange is broadening the menu. Crypto-native traders increasingly want access to stocks, commodities and indexes without maintaining separate platforms for every asset class.
Physically settled options also carry a different risk profile from perpetual contracts. A buyer’s maximum loss is generally limited to the premium paid, while exercise can result in actual ownership or delivery of the underlying security.
That structure will be familiar to conventional options traders, even if the distribution channel is new.
There is still a regulatory split running through the story. Binance’s new product is designed for eligible non-U.S. customers, while U.S. market participants continue debating how crypto-style, around-the-clock products should fit domestic securities and derivatives rules.
1/ This week, we filed comments with the @SECGov and @CFTC supporting greater coordination between the agencies to clarify the treatment of innovative products and provide a clear path to bring equity perpetual markets onshore.
— Blockchain Association (@BlockchainAssn) August 25, 2026
The bigger signal is the convergence. Crypto exchanges are borrowing the instruments of traditional finance, while traditional brokers and regulators are adapting to markets that increasingly expect global access and longer trading hours.
Binance’s options launch does not erase the legal and geographic boundaries around those markets. It does show that the competition to become a user’s primary financial platform is moving well beyond crypto spot trading.
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