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Binance Lists Apple, Microsoft and MicroStrategy Stock Tokens
Binance adds three more stock tokens on top of Tesla and Coinbase.
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Binance adds three more stock tokens on top of Tesla and Coinbase.
After Binance s controversial listing of Tesla (TSLA) and Coinbase (COIN) stock tokens, Binance has doubled down and now announced three more. The exchange has listed tokenized versions of Microsoft (MSFT), Apple (AAPL) and MicroStrategy (MSTR).
The three new tokenized versions of the stocks will be made available slowly over the next week. The exchange describes the tokens as tokens of stocks (i.e., shares of public companies) that trade on traditional stock exchanges. Each Stock Token represents one ordinary share of the relevant stock. These Stock Tokens are fully backed by a depository portfolio of underlying securities held by CM-Equity AG, Germany (“CM-E”).
Cryptocurrency Exchanges Forge New Paths, Bitcoin ETF Applications Continue
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This week one of the largest U.S. cryptocurrency exchanges, Coinbase, completed its initial public offering through a direct listing of its shares on Nasdaq. Separately, according to a press release, last week cryptocurrency platform Exodus opened its blockchain-based SEC-qualified public offering of common stock, with each share of common stock represented by a “Common Stock Token.” The company, which offers a multi-asset cryptocurrency wallet, reportedly has received subscriptions for nearly $60 million from more than 4,000 accredited and non-accredited investors.
A well-known financial services company focused on digital assets and cryptocurrencies recently filed a bitcoin exchange traded fund (ETF) application with the Securities and Exchange Commission (SEC), according to a recent report. Another recent report noted that the SEC recently began review of a separate bitcoin ETF application by an
Apr 12, 2021
The stock tokens will allow investors to buy and sell fractions as small as 1/100th of the underlying TSLA share.
Tesla stock tokens will be available on cryptocurrency exchange
Binance when the
Investors in the
mainland China and
Turkey will not be able to own the stock tokens, which allow traders to buy and sell fractions of underlying shares, a notable if not groundbreaking effort that would lower the bar for entry into high-priced stocks for traders.
The Tesla (
Binance USD (BUSD), a stablecoin pegged to the U.S. dollar and issued by New York-based
Paxos Trust Company.
“Stock tokens demonstrate how we can democratize value transfer more seamlessly, reduce friction and costs to accessibility, without compromising on compliance or security,”
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