Binance disclosed that it holds a minority stake in Alpaca, which holds approximately 94% market share in the custody of tokenized US stocks and ETFs.
Binance just partners with Alpaca for US stock and ETF trading
Per their agreement, Binance receives 50% of Alpaca’s Payment for Order Flow (PFOF) fees and 65% of the remaining profit from user stock lending after paying interest to users. — link