- Binance has tweeted that it is about to launch tradable stock tokens.
- The first coin on the list will be $TSLA from Tesla Inc.
- Binance users can access cryptos and traditional stock markets easily.
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.
— 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.