Binance Builds Infrastructure for Stock Perpetuals, Spurring TradFi-Crypto Convergence

Binance Adds Stock-Linked Perpetual Futures to API

Binance has quietly added a new endpoint to its futures API that suggests preparations for stock-linked perpetual futures are underway. The REST endpoint, POST /fapi/v1/stock/contract, is designed for users to sign a "TradFi-Perps agreement contract," a step typically required before trading traditional finance-linked perpetuals. While Binance has not officially announced the product, the technical change hints at a broader move into equity derivatives.

The update aligns with growing interest in real-world-asset (RWA) derivatives across both centralized and decentralized platforms as exchanges eye traditional finance markets.

Stock perpetuals extend the crypto-native perpetual model to traditional equities, enabling 24/7 trading without the need for traditional brokers. Settlement typically occurs in stablecoins like USDT, making it easier for crypto-native traders to hedge or express macro views.

Industry momentum around RWA derivatives is accelerating, with platforms like Bybit and Kraken already offering tokenized stock products. Coinbase, too, has expanded its derivatives offerings with nano futures for bitcoin and ether, potentially setting the stage for more traditional finance-linked instruments. Decentralized platforms such as Ostium are also gaining traction, offering perpetuals tied to equities, metals, and energy markets.

Why the Move Matters for Traders

For traders and investors, stock perpetuals offer an alternative to traditional stock trading by enabling leveraged positions on equities without waiting for traditional market hours. This is particularly appealing to crypto-native traders, who are used to 24/7 markets and prefer to avoid the onboarding processes of traditional brokerage accounts. The ability to trade equities with crypto-friendly mechanics could attract a new segment of users to platforms like Binance.

Exchanges are also motivated by the size of the equities market, which represents a multi-trillion-dollar asset class. By offering perpetual contracts on equities, Binance and its competitors can attract traders looking for new opportunities beyond crypto pairs and forex. This expansion could also drive higher volumes and user engagement as research shows.

Regulatory and Technical Challenges

Despite the potential, stock perpetuals face regulatory uncertainty, particularly around how they are classified and governed. Unlike traditional stock futures, these instruments operate on crypto exchanges and are not subject to the same regulatory frameworks. This ambiguity could slow adoption and create compliance challenges for exchanges and traders alike.

Technically, Binance's move reflects broader infrastructure development for RWA derivatives. The addition of a stock-perps contract endpoint indicates that the exchange is laying the groundwork for future product launches, even if a public announcement is not yet on the horizon. This aligns with the trend of incremental development in the derivatives space, where exchanges test and build capabilities in advance of regulatory clarity.

What This Means for the Market

Binance's API update is a signal that traditional and digital asset markets are converging. As more platforms introduce tokenized or synthetic equity products, the lines between crypto and traditional finance are blurring. This could lead to a new wave of hybrid instruments that serve both crypto-native and institutional investors as market trends show.

For crypto exchanges, the introduction of stock perpetuals represents a strategic move to expand their offerings and compete with traditional brokerage platforms. The ability to offer 24/7 access to equity markets could give them a unique edge, especially in jurisdictions where traditional trading hours are a limitation. However, success will depend on regulatory support and trader adoption as industry analysis shows.