Binance Takes a Leap into Tradition: Adding 7,000 U.S. Stocks and ETFs to Trading Platform

Cryptocurrency exchange Binance is expanding into stocks and exchange-traded funds (ETFs). 

The privately held trading platform has announced that users can now trade more than 7,000 U.S. stocks and ETFs alongside cryptocurrencies such as Bitcoin (CRYPTO: $BTC). 

The exchange, which launched in 2017, now allows users to buy and sell stocks and ETFs that are settled in stablecoins. 

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Going forward, users can buy and sell stocks, ETFs and crypto within a single app and account. Trading is available through the app 24 hours a day, five days a week, said Binance. 

The exchange adds that it now offers its clients direct stock and ETF trades, as well as tokenized securities that it calls "bStocks." 

Binance said that settlement occurring in stablecoins reduces barriers to entry for users who may not have access to a traditional bank. 

In a written statement, Binance said that cryptocurrency trading remains the core of its business, but the addition of stocks and ETFs represents an expansion into multiple asset classes traded on blockchain infrastructure.

Binance's expanded service combines cryptocurrencies, stocks, ETFs, and stablecoins in one user account. The company reported earlier this year that it has more than 300 million users.

As a privately held company, Binance's stock does not trade on a public exchange. 

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