Frequently Asked Questions on Binance bStocks as Collateral Assets

What are bStocks Tokenized Securities? 

bStocks are blockchain-based tokenized securities that provide exposure to the price performance of underlying listed equities. bStocks are not stocks or shares, do not represent direct ownership of the underlying company, and do not confer shareholder rights. They are available only to eligible users in permitted jurisdictions. 

For more information, please refer to What Are Binance bStocks Tokenized Securities.

Which bStocks tokens are currently available as collateral assets under Binance Margin?

Binance Margin now supports select bStocks tokens as eligible collateral assets. Additional bStocks tokens may be introduced in the future. 

For the most up-to-date list of supported collateral assets, please visit the Margin Data page.

Who can use bStocks as collateral assets under Binance Margin products?

bStocks margin collateral is available to all users in permitted jurisdictions, subject to eligibility requirements. In Cross Margin and Portfolio Margin Accounts, bStocks can be used as collateral to enhance capital flexibility.

To help protect user assets and in accordance with regulatory requirements, VIP 0–2 users must pass the suitability assessment questionnaire before using bStocks as collateral or engaging in bStocks margin trading. Additionally, VIP 0–2 accounts holding bStocks as collateral are subject to additional risk control rules.

For more details, please refer to the bStocks Margin Collateral Risk Controls Guide.

Is the Suitability Assessment Questionnaire mandatory for VIP0-2 users ?

Yes. VIP0-2 users must pass the Suitability Assessment Questionnaire before transferring bStocks as collateral into their Margin Accounts or engaging in bStocks margin trading. Otherwise, bStocks-related margin features cannot be used.

Users at VIP3 or above may optionally complete the questionnaire; it is not a prerequisite for enabling bStocks margin features. However, if a user's VIP level drops below 3, they must complete the questionnaire before using or continuing to use bStocks collateral and margin trading features.

Can I retry the Suitability Assessment Questionnaire if I fail? What are the retry rules?

Yes. Once passed, the questionnaire is valid. If you fail, you can retry according to the following rules:

• 1st failure: immediate retry available.
• 2nd failure: immediate retry available.
• 3rd failure: a 24-hour cooldown is triggered, during which you cannot retake the questionnaire.
• After the cooldown ends, you may continue. If you fail again, another 24-hour cooldown is triggered.

I accidentally closed the questionnaire popup. How can I access it again?

You can re-enter the questionnaire through either of the following methods:

• Margin trading page: The popup will automatically appear each time you open the bStocks margin trading page
• Public link: Visit http://cf-workers-proxy-cyt.pages.dev/en/margin/bstocks-quiz directly

How are cryptocurrency assets classified for risk control purposes?

For accounts holding bStocks as collateral, other cryptocurrency assets are classified into three categories based on their prudential quality tier, which Binance determines based on various factors (including volatility, tail drawdown, liquidity, and track record):

• High-liquidity assets: Assets with higher collateral rates and relatively stable price performance;
• Medium-liquidity assets: Assets with moderate collateral rates and greater price volatility;
• Low-liquidity assets: Assets with lower collateral rates and significant price volatility.

An asset's classification may change over time at Binance’s discretion. 

For the latest classification, please refer to the Margin Data page. 

What conditions trigger the VIP 0–2 risk restrictions?

Risk restrictions will be triggered when your account simultaneously meets all of the following conditions:

• Your current VIP level is below 3, and your account holds bStocks as collateral;
• Your bStocks collateral represents a significant proportion of your total collateral-rate-adjusted net asset value;
• The effective leverage on your medium-liquidity or low-liquidity asset net exposure exceeds the designated threshold.

For the specific thresholds and the effective leverage calculation formula, please refer to the bStocks Margin Collateral Risk Controls Guide.

What restriction measures apply to VIP 0–2 users holding bStocks as collateral?

If your account exceeds certain risk thresholds, the system may impose restriction measures, including but not limited to:

• Prohibiting additional bStocks transfers into the account;
• Prohibiting the purchase or borrowing of medium-liquidity and low-liquidity assets (except for repaying existing liabilities), while allowing the transfer-in of suitable assets to mitigate liquidation risk;
• Prohibiting the opening of new any futures positions in Portfolio Margin Accounts (reduce-only permitted);
• Pausing auto top-up for bStocks and medium-liquidity or low-liquidity assets.

Once your account returns to a requisite risk level, all restrictions will be automatically lifted.

How can I lift the risk restrictions?

You can reduce account risk and lift restrictions through the following methods:

• Reduce medium-liquidity or low-liquidity asset exposure: Close, sell, or transfer out these assets; repay related liabilities; or close futures positions in Portfolio Margin Accounts.or close futures positions in Portfolio Margin Accounts.
• Transfer in high-liquidity assets: Optimize your collateral structure and enhance risk resilience;
• Upgrade to VIP 3: Your account will no longer be subject to this risk control restriction. For the VIP upgrade process, please refer to the Binance VIP & Institutional Services page;
• Reduce bStocks proportion: Transfer out a portion of bStocks to bring the ratio below the threshold. Please ensure your account maintains a safe margin level during the transfer to avoid liquidation.Reduce bStocks proportion: Transfer out a portion of bStocks to bring the ratio below the threshold. Please ensure your account maintains a safe margin level during the transfer to avoid liquidation.

The system will continuously monitor your account. Once the trigger conditions are no longer met, the restrictions will be automatically lifted. 

Can I still trade during the risk restriction period?

Yes, but with limitations. You may reduce existing positions to lower risk, but you cannot open new positions, borrowings, or futures positions in medium-liquidity or low-liquidity assets. In Portfolio Margin Accounts, futures positions for any asset can only be reduced, not increased.

High-liquidity assets remain unrestricted, you can continue to trade them normally.

Please note: Risk restrictions do not forcibly close your existing positions. However, forced liquidation may still occur if your margin level breaches the liquidation threshold, regardless of whether risk restrictions are applied on your account.

Under what circumstances are users exempt from these risk restrictions?

• VIP 3 and above users are exempt from these risk controls;
• VIP tier changes will automatically apply or remove the corresponding measures;
• Accounts not holding bStocks as collateral are unaffected.

Will risk restrictions affect my other accounts?

Risk restrictions apply only to Cross Margin and Portfolio Margin Accounts holding bStocks as collateral, and only for VIP 0–2 users. Other margin accounts that do not hold bStocks are not affected. You may continue to trade normally via other sub-accounts.

Users at VIP 3 or above are not subject to these risk restrictions. If you upgrade to VIP 3, the restrictions will be automatically lifted. If you are downgraded below VIP 3 and the trigger conditions are met, the restrictions will apply again.

How will I be notified when risk restrictions are triggered or lifted?

Binance will send email notifications to your registered email address when risk restrictions are triggered and when they are lifted. Please ensure your email is up to date and monitor your inbox regularly.

Which Margin products support these bStocks tokens as collateral?

Currently supported bStocks tokens may only be used as collateral assets under Cross Margin, Portfolio Margin, and Portfolio Margin Pro.

What is the collateral ratio for bStocks tokens?

Collateral ratios may vary across different bStocks tokens and are subject to change based on market conditions. 

For the latest collateral ratio information, please refer to the respective pages below:

• Cross Margin: Margin Data
• Portfolio Margin: Portfolio Margin Collateral Ratio
• Portfolio Margin Pro: Portfolio Margin Pro Tiered Collateral Ratio

Can I borrow against these bStocks tokens?

No. Borrowing is not currently supported for bStocks tokens. They can only be used as collateral assets. Please stay tuned to official Binance announcements for any future updates.

How is the index price determined for bStocks tokens used as collateral in Margin?

The index price for bStocks tokens used as collateral in Margin is calculated differently depending on U.S. stock market trading hours. You can query the constituent prices and weights for each token via the following (using TSLABUSDT as an example):

• API Endpoint
• Price Index Page

For more details, please refer to: bStocks Tokenized Securities Collateral Index Price Methodology.

Are there any risks I should be aware of when using bStocks as collateral?

As with all margin trading, users are encouraged to manage their risk prudently. A few things you should keep in mind:

• Market volatility risk: Price fluctuations in bStocks may reduce the value of your collateral.
• Margin level monitoring: Please monitor your Margin Level or Unified Maintenance Margin Ratio (uniMMR) regularly to keep your account in good standing.
• Collateral ratio adjustment risk: Collateral ratios are subject to change at any time based on market conditions. Please refer to the Margin Data page for the latest information.
• VIP 0–2 risk controls: If you are a VIP 0–2 user holding bStocks as collateral, your account may be subject to additional risk restrictions when certain thresholds are reached.

Please note: Accessing or using the Margin Services, you agree, acknowledge and assume all risk associated with the Margin Services, including but not limited to those associated with using bStocks as collateral and the risks described in the Margin Services Terms and the Risk Warning.

How do corporate actions, such as dividends, stock splits, and reverse splits, affect my bStocks collateral?

Please refer to the section ”Corporate Actions (Stock Split / Dividends Reinvestment)” in the Frequently Asked Questions on bStocks. 

Is there a maximum collateral limit for bStocks holdings on the platform?

Yes. bStocks used as collateral are subject to the platform's maximum collateral quantity limits. For details on the applicable rules, please refer to Maximum Collateral Limit for Margin Assets.

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.

bStocks tokenized securities are classified as Certificates representing certain Financial Instruments (paragraph 92, Schedule 1 to FSMR). bStocks are not stocks or shares and bStocks do not allow holders to directly own a share or stock in the underlying listed company. bStocks do not represent any affiliation with the underlying asset's issuer. bStocks are offered through an Approved Prospectus in the ADGM and are not offered in any other jurisdiction. No public offer is made outside of the ADGM. Tokenized securities are available only to eligible users in permitted jurisdictions on a secondary market basis only. It is your sole responsibility to ensure that accessing and trading Tokenized Securities is lawful in your jurisdiction before proceeding. Accessing this product from a jurisdiction in which it is prohibited or restricted does not create any liability or obligation on the part of Binance. We may restrict, suspend, reject, cancel, or unwind access or transactions if we determine, in our sole discretion, that your access or transaction may breach applicable law, product restrictions, eligibility criteria, sanctions requirements, or the relevant offering documents. 

No information displayed in connection with Tokenized Securities is intended as an offer, solicitation, promotion, recommendation, or invitation to buy or sell securities in any jurisdiction. Tokenized Securities are not offered, sold, distributed, made available, or accessible in the United States or to, or for the account or benefit of, U.S. persons. The Tokenized Securities have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws and a public offering of bStocks will not be conducted in the United States or any other jurisdiction (other than the ADGM). By accessing this product, you represent and warrant that you are not a U.S. person, are not located in the United States, are not acting for the account or benefit of any U.S. person, and will not access, purchase, sell, transfer, redeem, or otherwise transact in Tokenized Securities from within the United States. 

For more information, see the Terms of Use, Exchange Rules, Exchange Procedures, relevant Prospectus (if applicable to you and understanding that the offer is only made in ADGM, no public offer is being made elsewhere and viewing the prospectus does not constitute an invitation or solicitation outside ADGM), bStocks Minting and Redemption Product Terms, Admission to Trading Notice , bStocks Tokenized Securities Collateral Index Price Methodology and Risk Warning.