BingX Opens 7,000 US Stocks to Crypto Users a Day After Bybit

BingX began offering trading in more than 7,000 US stocks and exchange-traded funds on Tuesday, routing client orders through US brokerage infrastructure provider Alpaca. The exchange said users pay for the shares using USDT or USDC drawn from their existing crypto balances, with Alpaca handling custody, clearing and settlement. The launch came a day after Bybit opened access to more than 1,000 US stocks and ETFs settled in USDC, also using Alpaca to execute and hold the securities.

Both exchanges already sell leveraged contracts tied to US equities, and cash shares take them further into retail brokerage territory. According to CoinGecko data cited in the announcement, crypto exchanges processed over $1.32 trillion in perpetual futures on traditional assets between January and May, compared with $104.21 billion for all of 2025. Equity-linked contracts still accounted for less than 1% of traditional stock market volume in May.

BingX said users buy actual US securities rather than tokenized versions. Trading is available 24 hours a day, five days a week, with market and limit orders and a $5 minimum. Kevin Lee, the exchange's chief strategy officer, described the launch as "another step in making global market opportunities more accessible to BingX users."

Cash Equities Alongside Contract Markets

Bybit took the contract route first, offering stock contracts for difference on a MetaTrader 5 account since June 2025 alongside FX and gold through an entity licensed in Mauritius. BingX built its own traditional-asset book on perpetual futures, which it says passed 500 listed markets in August, covering gold, crude oil, the S&P 500 and individual stocks.

Kraken moved earlier with Alpaca, launching more than 11,000 US stocks and ETFs for its American clients in April 2025. In July, Kraken parent Payward and Canadian bank BMO provided debt as part of a $435 million financing package for Alpaca. Bitget chose different partners: its Stock+ service, launched in June, converts deposits into USDC and buys US shares through RQD Clearing and Atomic Vaults Securities.

Separately, OKX is taking a tokenized route through a joint venture with Intercontinental Exchange, the owner of the New York Stock Exchange, which plans round-the-clock trading in 63 tokenized US stocks. BingX is offering $10 of Tesla shares to clients who complete a first stock trade under a launch promotion, though the release did not name eligible countries. Founded in 2018, BingX says it has more than 40 million users.