- LBank says its USDT-settled U.S. stock futures surpassed US$6.3B in volume since launching in late Dec 2025, with 10,000+ active traders.
- The product offers 35 U.S. equity futures (e.g., NVDA, TSLA, CRCL, MSTR) with up to 20x leverage and 24/7 trading to broaden global access.
- Adoption was boosted via a trading competition offering up to 50% fee discounts and a US$50,000 prize pool, with names like HOOD, GE, and FIG among high-volume contracts.
- As leveraged derivatives, these contracts provide no share ownership or shareholder benefits and raise unresolved regulatory, counterparty, and risk-management questions.
Read More
LBank’s announcement that its U.S. stock futures offering has already surpassed US$6.3 billion in trading volume is significant, particularly given the product’s recent launch at the end of December 2025. It shows strong latent demand among global retail and institutional traders for exposure to U.S. equities in a digital, time-flexible form. The offering of high leverage (up to 20×), USDT settlement, and a relatively low minimum trading threshold position this product to attract users who are underserved by traditional equity brokerage models.
The strategic inclusion of 35 U.S. equities—including high-volume names such as NVIDIA, Tesla, Circle, MicroStrategy—as well as names like HOOD, GE, and FIG among most traded, points to a preference in the market for both high-beta growth/tech names as well as more moderate capitalization firms. The 24/7 nature of trading combats one of the primary limitations of U.S. equities exposure for non-U.S. time zone residents or crypto-native users.
However, there are key risks and limitations. Because these are futures/derivative contracts, traders do not own underlying shares and thus do not receive dividends, voting rights, or corporate action benefits. The leverage (20×) increases counterparty risk, potential for liquidation, and exposure to volatile swings. Also, depending on jurisdiction, regulatory constraints could limit access or impose restrictions.
From an investment banking perspective, this trend competes with or complements traditional brokerage and CFD providers. It might put pressure on firms to digitize, reduce costs, improve margin and derivative offerings, or even partner with or acquire platforms with crypto integrations. Tokenization providers such as Ondo Finance and “Stocks” partnering with LBank indicate growing infrastructure maturation.
Open questions include: how exchanges will ensure transparent pricing and settlement amid regulatory scrutiny; whether regulators will treat such products as securities in various jurisdictions; how liquidity and market-making will behave under stress; and what counterparty risk and operational safeguards (e.g. for corporate actions) are in place. Also, how tax treatment and reporting will be handled for derivative exposure versus direct equity ownership remain unsettled.
Supporting Notes
- LBank U.S. stock futures trading volume has exceeded US$6.3 billion since launch.
- More than 10,000 traders have participated in the U.S. stock futures market on LBank globally.
- The product launched December 31, 2025, with 35 U.S. equity futures pairs.
- Supported listed names include NVIDIA (NVDA), Tesla (TSLA), Circle (CRCL), MicroStrategy (MSTR), and also HOOD, GE, FIG among high volume.
- Trading is USDT-settled, with leverage up to 20×, and operates around the clock.
- LBank held a trading competition with up to 50% fee discounts and a US$50,000 prize pool to incentivize volume.
- Derivative nature: users do not receive shareholder rights, dividends, or vote; underlying assets are not owned.
- Recently added futures include PEP, ORCL, FIG, LLY, FUTU on December 24, 2025; and AAPL, COIN, AMZN, META, GOOGL, MCD, SPY on December 31, 2025.