Many people still don’t understand the truly scary part about Binance’s stock trading business. It’s not selling stocks. It’s replicating a global brokerage. Here’s the info: Binance’s own Nest Trading handles the brokerage business. It holds a regulatory license from Abu Dhabi. As for trade execution, clearing, and custody, those are handled by U.S.-licensed broker Alpaca Securities. In other words: Regulation, trading, custody, liquidity— it’s all connected. Over the past few years, a lot of people have been asking: ‘How will crypto enter traditional finance?’ Now the answer might be the other way around. It’s not crypto entering Wall Street. It’s Wall Street being rebranded by crypto.