Nest Trading, operator of Binance's US stock service, confirmed as affiliate

According to filings with the Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority, Nest Trading Limited, the brokerage firm handling Binance's U.S. stock trading service, has been confirmed as a Binance affiliate. The company was registered with the ADGM on Jan. 5 of this year, and its official website registration also points to Binance. Binance had previously described the firm as an "Independent Introducing Broker" that routes user orders to Alpaca Securities. Nest Trading holds licenses for investment brokerage, asset management, proprietary trading, currency services, and custody. However, due to regulatory restrictions, it cannot directly hold or control user funds and assets. Order execution, clearing, and asset custody are handled by Alpaca Securities.