PANews reported on June 1st that, according to the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority's public register, Nest Trading Limited, the referring broker responsible for Binance's US stock trading services, is an affiliated entity of Binance, and its official website registration URL directly points to Binance. The company completed its registration with the ADGM on January 5, 2026, only about five months after Binance launched its US stock trading service.
Nest Trading holds an ADGM financial license, and its business scope covers investment arrangements, investment agency and proprietary trading, asset management, money services, and custody arrangements. However, in accordance with regulatory requirements, the company is not allowed to hold or control client funds and assets. The execution, clearing, and custody of user assets are handled by the US brokerage firm Alpaca Securities, and its money services are limited to regulatory-approved stablecoins.
It's worth noting that Binance previously described Nest Trading as an "independent referral broker" responsible for routing user orders to Alpaca Securities. Meanwhile, Binance's official website discloses that it has established 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), indicating that it is gradually building a complete on-chain securities infrastructure.
