Binance Lets Traders Use JPMorgan and Eli Lilly bStocks as Margin Collateral
Binance Expands Margin Collateral to Four Tokenized Stocks
Binance added four equity-linked bStocks tokens as margin collateral on Oct. 7. Eligible traders can now use tokens tied to JPMorgan Chase, Eli Lilly, Securitize, and StablecoinX to support leveraged trading.
The tokens have ticker symbols JPMB, LLYB, SECZB, and USDEB. They became eligible for Cross Margin, Portfolio Margin, and Portfolio Margin Pro from 8 a.m. ET. Traders can pledge these tokens as collateral but cannot borrow the bStocks themselves.
bStocks are tokenized representations of U.S. stocks that give holders price exposure without actual ownership or shareholder rights in the underlying companies. Binance launched the bStocks program in June to enable round-the-clock trading and stock-to-token conversion.
Collateral Ratios Vary by Account Type
All four tokens receive a 50% collateral ratio in both Cross Margin and Portfolio Margin accounts. This means only half of the token's index-based value counts toward margin requirements.
Portfolio Margin Pro uses a tiered schedule based on account size:
- $0 to $200,000 tier: 100% collateral ratio
- $200,000 to $400,000 tier: 80% collateral ratio
- $400,000 to $800,000 tier: 70% collateral ratio
- $800,000 to $1 million tier: 40% collateral ratio
- Above $1 million tier: 20% collateral ratio
Individual tokens also face platform-wide collateral limits that may restrict further deposits once capacity is reached.
Users Face Suitability Checks and U.S. Restrictions
Access is limited to eligible users in permitted jurisdictions. U.S. persons and users in the United States are excluded.
Regular users and VIP 1–2 customers must pass a suitability questionnaire before using bStocks as collateral. These accounts may also face additional restrictions when bStock concentration or exposure to less-liquid crypto assets exceeds Binance's risk thresholds.
Weekend and After-Hours Pricing Risks
Binance uses real-time U.S. equity prices from external data providers during trading sessions, including pre-market and after-hours periods. When markets are closed on weekends or holidays, the collateral index remains fixed at the last valid price from the most recent trading session.
This creates a difference between spot trading and collateral valuation. While bStocks can be traded around the clock, their collateral value does not update during market closures. Binance warns that prices can move significantly when equity trading resumes, and a decline in collateral value could push an account closer to forced liquidation.
Risk-based liquidation ratios for the four tokens range from 5% to 20% depending on the Portfolio Margin tier.
Concurrent Spot Listings Enable 1:1 Conversions
The collateral expansion coincides with spot listings for all four tokens against USDT. Binance also allowed holders of the underlying stocks to convert them into the corresponding bStocks at a 1:1 ratio with no conversion fee.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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