Binance added four equity-linked tokens, including bStocks tracking JPMorgan Chase and Eli Lilly, to its margin collateral lineup at 50% collateral ratios under both Cross Margin and Portfolio Margin, according to a disclosure reported by The Defiant.

The addition extends Binance's tokenized-equity product line into the exchange's derivatives and margin infrastructure, allowing traders to post the synthetic stock tokens as collateral against futures and spot-margin positions. Two of the four newly eligible assets are the exchange's bStock products for JPMorgan Chase (JPM) and Eli Lilly (LLY); The Defiant's report did not name the remaining two equity-linked instruments.

A flat 50% collateral ratio applies to all four tokens under both Cross Margin and Portfolio Margin, while a separate tiered schedule governs Portfolio Margin Pro, Binance's advanced risk-managed account mode for institutional-sized accounts. The 50% haircut, meaning each $1 of bStock collateral counts as $0.50 toward margin requirements, sits below the advance rates Binance typically extends to major cryptocurrencies and stablecoins and signals tighter risk treatment for the equity-linked products.

What does the eligibility change operationally?

• Cross Margin participants can pledge the four tokens within the shared multi-asset collateral pool, where realized P&L on bStock positions offsets borrowing requirements across other holdings in the same account.
• Portfolio Margin users receive the same 50% treatment under Binance's portfolio-based risk engine, which nets offsetting exposures across spot, futures and options books.
• Portfolio Margin Pro users face a tiered haircut that adjusts by token and position size, consistent with the exchange's existing concentration-risk framework for less liquid or higher-volatility collateral assets.

Binance's bStock product line allows users outside US broker rails to take synthetic exposure to underlying US equities through tokenized instruments traded on the exchange's spot interface. Until now, the bStocks functioned primarily as spot-only products, which limited their utility for traders running multi-asset strategies. Folding the tokens into the margin system raises capital efficiency, allowing equity-linked positions to back derivatives exposure and vice versa, and may narrow the wider spreads that tokenized US equities have historically carried relative to regulated broker venues during US market hours.

The disclosure arrives as Binance and other large crypto exchanges accelerate efforts to bridge traditional-finance instruments with their derivatives stacks, a market-structure shift driven by demand from traders seeking single-platform exposure to crypto and equity volatility. Margin eligibility for tokenized stocks remains rare across major venues, and Binance's tiered Portfolio Margin Pro schedule suggests the exchange is calibrating haircuts to manage concentration risk as larger accounts begin pledging bStocks against derivatives books.

The new collateral options appeared live on Binance's margin configuration page at the time of the announcement, and the exchange did not specify a phased rollout or implementation deadline for the new margin products.