Lots of people are talking about RWA, but many are still stuck at the stage of 'putting stocks on-chain.' Personally, I think the real focus shouldn't just be on whether assets are on-chain, but whether they can participate in the entire trading ecosystem after being on-chain. This time, Binance has included bStocks @binancezh as collateral assets for Cross Margin, Portfolio Margin, and Portfolio Margin Pro. I think this is a pretty significant change. In the past, tokenized securities mostly just provided price exposure. But now, they're starting to enter the margin system, allowing users to unlock some liquidity without selling their holdings, and truly participate in account asset management. RWA is no longer just a tradable asset—it’s taking on a new role within the trading infrastructure. This is also something I've been paying close attention to: the value of an asset isn't just about whether it can be bought or sold, but whether it can continuously improve capital efficiency. During the holding period, you can still earn economic benefits tied to the underlying asset, while also using it as collateral to participate in more strategies. This approach is far more meaningful than simply adding another tradable asset. Of course, this feature still has quite a few limitations, such as being available only to VIP3 and above users in eligible jurisdictions. bStocks are tokenized securities (Certificates), not traditional stocks, and they don’t directly grant shareholder rights in the underlying company. Currently, borrowing bStocks is also not supported. Additionally, margin trading itself comes with risks like collateral ratio adjustments, price volatility, and liquidation. Relevant parameters should still be based on Binance’s latest official announcements and Margin Data. In my view, the more important significance of this launch isn’t just adding another feature, but enabling RWA to truly enter the trading account system. Moving from 'can buy and sell' to 'can be used as collateral, can be combined, can improve asset efficiency' might be the next stage of development for tokenized securities. Binance