According to the public register of the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), Nest Trading Limited, the introducing broker for Binance's US stock trading services, is in fact an affiliated entity of Binance, with its registered website address pointing directly to Binance. This finding sheds further light on the connection between the world's largest cryptocurrency exchange and the traditional securities market.
Registration Details and License Scope
The company was registered in ADGM on January 5, 2026, just about five months before Binance officially launched its US stock trading service. Nest Trading holds an ADGM financial license covering investment arrangement, investment agency, proprietary trading, asset management, money services, and custody arrangements.
However, under regulatory requirements, the firm is prohibited from holding or controlling client funds and assets. The execution, clearing, and custody of user assets are handled by US broker Alpaca Securities. In addition, its money services are strictly limited to regulator-approved stablecoins, further mitigating potential risks.
Three 'Nest' Entities Build On-Chain Securities Infrastructure
Notably, Binance previously described Nest Trading as an "independent introducing broker" responsible for routing user orders to Alpaca Securities. Yet the public register confirms it as an affiliated entity. Meanwhile, Binance's official website disclosed that it has established three entities under the "Nest" name in Abu Dhabi: Nest Exchange Limited for trading system operation, Nest Clearing and Custody Limited for custody and central securities depository, and Nest Trading Limited for investment deal matching, asset management, and money services. This layout demonstrates that Binance is progressively building a complete on-chain securities infrastructure.