Binance offers fee-free 1:1 conversion into bStocks

Binance is offering eligible users a fee-free, 1:1 conversion of select third-party tokenized securities into corresponding bStocks through October 11. The promotion includes tokens tied to Tesla (TSLAon), MicroStrategy (MSTRon), Coinbase (COINon), and Circle (CRCLon). These conversions are subject to daily caps and per-user limits.

Binance's bStocks are BEP-20 tokens issued on the BNB Smart Chain designed to provide 1:1 economic exposure to US-listed equities. The underlying shares are held by a regulated custodian, and the product operates within a structure approved by the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM FSRA).

Users can exchange bStocks for their corresponding shares or vice versa through a feature that allows for 24/7 trading, withdrawal, or redemption. While bStocks allow for around-the-clock trading on Binance spot markets, holding a bStock certificate does not make the holder a direct shareholder of the underlying company.