CoinEdition
Published Apr 13, 2021 03:14AM ET
Updated Apr 13, 2021 03:30AM ET
Binance Launches Tradable Stock Tokens, Starts With Tesla
Crypto exchange Binance has tweeted that it is ready to launch its tradable stock tokens. According to Binance, the tradable stock tokens gain value from equity stock shares. It also mainly represents a complete ‘trade digital token’.
Introducing tradable stock tokens on #Binance!
Trade digital tokens that represent fully backed shares of equity stock.
First stock token listing: @Tesla Inc. $TSLA
— Binance (@binance) April 12, 2021
Specifically, Binance will list Tesla Inc. — $TSLA, as its first tradable stock token on the platform. If this happens, Tesla will have a lower trading size of about one-hundred of a stock token. This shows the same fraction of Tesla’s share.
However, the tradable stock tokens have near-zero-commission. Even more, the Binance tradable stock token project is in partnership with CM-Equity AG and Digital Assets AG.
Also, as part of the tradable stock token operation, Binance users will now have full access to a variety of cryptocurrencies. Not limited to cryptos alone, users can now also access traditional stock markets easily via their Binance account.
Binance CEO CZ said,
Binance serves many users around the world and we are very pleased to be able to help them participate in the equity market…Through, connecting traditional and crypto markets, we are building another technological bridge for a more inclusive financial future.
Finally, the tradable stock tokens will price in and payout in Binance USD.
This article was first published on coinquora.com
Continue reading on CoinQuora
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.