Connect with us

News

Binance Users to Trade Tesla Stocks as it launches Tradable Stock Tokens

Published

on

binance stock tokens

Binance has launched a zero-commission tradable stocks token on its platform to allow its users trade stocks of companies. The largest exchange by trade volume through this service will enable its users trade stocks of the world largest EV Manufacturer Tesla Inc.

According to Binance, each stock on the platform represents a share of equity stock which will be fully backed by shares stored in a depository portfolio of underlying securities. This move by binance is in cooperation with investment firm CM-Equity AG and asset tokenization platform Digital Assets AG.

Binance said the Tesla stock tokens on the platform will have a minimum trade size of one-hundredth of a stock token, representing the same fraction of a Tesla share. Stock tokens are priced and settled in the Binance stablecoin BUSD.

Read also: BNB about 40% of Ethereum’s Market Cap As it Hits new ATHs

The exchange revealed that the Stock Tokens will open users to more markets; allowing them to access liquid stock assets, enable traders to easily trade fraction of large stocks and as well as access traditional stock benefits such as stock splits, potential dividends and capital returns.

Speaking on this CEO of Binance, 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. Stock tokens demonstrate how we can democratize value transfer more seamlessly, reduce friction and costs to accessibility, without compromising on compliance or security. Through connecting traditional and crypto markets, we are building another technological bridge for a more inclusive financial future,

The CEO of CM- Equity AG also speaking said’

“We are a team of people-focused entrepreneurs, capital market specialists, software engineers, and financial regulatory experts. Our combined expertise is behind the launch of our stock tokens. CM-Equity AG and Digital Assets AG, as the engineers of the product, are pleased to pioneer an innovative experience on the Binance platform. This new kind of token combines different asset classes that are offered in one single marketplace for instant settlement in a compliant, scalable, and sound format.”

Binance noted that trading stocks will follow traditional exchange hours and it is not available to residents of select countries such as Mainland China, Turkey and other restricted jurisdictions. Users will also have to pass KYC to access the market.

0 0 votes
Article Rating
Advertisement Earnathon.com
Click to comment
0 0 votes
Article Rating
Subscribe
Notify of
guest

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Crypto News Update

Latest Episode on Inside Blockchain

Crypto Street

Advertisement



Trending

ALL Sections

Recent Posts

0
Would love your thoughts, please comment.x
()
x