Binance Exchange has announced the launch of zero-commission tradable stock tokens and the first tokenized stock would be of electric car manufacturer Tesla. All the stock tokens would be denominated, settled, and collateralized in BUSD. The Binance Stock token would tokenize a fraction of the value of the original stock price which would be available for trading on the exchange, TSLA/BUSD pair is scheduled to go live later today.
#Binance Launches Zero-Commission, Tradable Stock Tokens ➡️ https://t.co/AHW0b5J93w pic.twitter.com/xDb8FPhoqx — Binance (@binance) April 12, 2021
Binance also assured it would add more stock tokens to the platform based on customers’ demand. The exchange also informed these stock tokens won’t be available for trading in China, Turkey, and other restricted areas. However, Binance is not the first crypto exchange to launch fractionally tokenized shares and FTX was the first platform to start offering pre-IPO tokenized shares for Airbnb and most recently coinbase. Read More