Binance has incorporated bStocks into its leveraged collateral system, which completes the closed-loop of tokenized securities in terms of product logic. Pre IPO perpetual solution for price discovery before listing; Direct Stocks solves real shareholding issues; BStocks solves on chain and transaction issues; And supporting collateral is to allow RWA to start moving from the asset layer to the credit layer. This idea is actually to bring traditional securities firms' stock pledge financing into the Crypto account system. Afterwards, users holding RWA assets such as NVDAB and TSLAB do not need to sell them for USDT before participating in other transactions, but can directly mortgage them. After all, the core collateral in the cryptocurrency industry before was BTC, ETH, and stablecoins. Assuming there will be a large number of stocks in the future, ETF， Even US treasury bond bonds can be legalized and accepted as collateral by mainstream exchanges, so all kinds of assets can share a set of trading and risk control system. This is the true fusion of TradFi and Crypto! However, the essence of releasing liquidity is to introduce leverage, using stock tokens as collateral, not creating a wealth out of thin air, but obtaining new risk exposure by mortgaging it. The higher the asset efficiency, the higher the risk transmission efficiency. This is the area that ordinary users need to pay the most attention to. At present, Binance is only open to users above VIP3, which should be taken into consideration.