The entity behind Binance's US stock business revealed: Nest Trading is actually an affiliated company of Binance.

On June 1st, PANews reported that according to the public register of the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority, Nest Trading Limited, the referring broker for Binance's US stock trading services, is an affiliated entity of Binance, and its official website registration URL directly links to Binance. The company completed its registration with the ADGM on January 5, 2026, approximately five months after Binance launched its US stock trading service. Nest Trading holds an ADGM financial license, with a business scope that includes investment arrangements, investment agency and proprietary trading, asset management, money services, and custody arrangements. However, in compliance with regulatory requirements, the company is prohibited from holding or controlling client funds and assets. The execution, clearing, and custody of user assets are managed by the US brokerage firm Alpaca Securities, and its money services are restricted to regulatory-approved stablecoins. Notably, Binance had previously described Nest Trading as an "independent referral broker" responsible for routing user orders to Alpaca Securities. Concurrently, Binance's official website reveals the establishment of three "Nest" entities in Abu Dhabi: Nest Exchange Limited (trading system operation), Nest Clearing and Custody Limited (custody and central securities custody), and Nest Trading Limited (investment trading matching, asset management, and money services), suggesting a gradual development of a comprehensive on-chain securities infrastructure.