Binance's stock product has revealed more details, and I think overall, it has exceeded expectations. Instead of using the previous tokenized stock solution, they introduced a compliant broker under the Binance system, Nest Trading, which is responsible for arranging and routing users' securities orders to the partnered clearing broker (Alpaca). This way, the user experience is basically the same as with traditional brokers, breaking the barrier between traditional brokers and crypto exchanges: trade 7,000+ US stocks and ETFs with cryptocurrency, support for fractional shares, starting as low as $5. However, there are still a few areas that fell short of expectations: 1. Trading hours: Currently 5/24 trading, with markets closed on weekends. Hopefully, the next version can expand to 7/24. 2. Fees: The highest fee is the trading spread of 0.1% (fixed at $0.35 for trades under $350).