Binance is offering physically settled options on more than 1,000 selected U.S. stocks and ETFs inside the same account that already supports crypto and multiple forms of equity exposure, limited to eligible users outside the United States. Nest Trading Limited, an Abu Dhabi Global Market-regulated firm, introduces orders and routes them to Alpaca Securities LLC, which executes, clears, settles, and custodies any shares delivered on exercise; Nest’s register permits arranging deals and custody but states it cannot hold or control client money, while Alpaca is SEC- and FINRA-registered and can hold funds and securities. Contracts do not auto-exercise: users must submit an exercise instruction through Binance by the cutoff—as late as 30 minutes before expiry—or face best-efforts auto-liquidation and possible worthless expiry. Eligible retail users may buy calls and puts with maximum loss limited to the premium; that defined-loss framing is not extended to option writing. The options join direct U.S. stock trading, bStocks tokenized securities, and equity-linked perpetuals under one interface, after equity-linked perpetuals generated about $342.9 billion in August volume—roughly 79% of Binance TradFi perpetual activity and more than 800-fold growth from January—as the exchange positions itself as a multi-asset platform while leaving regulated execution and custody to Nest and Alpaca.