Binance, the cryptocurrency exchange, has decided to expand its stock token lists. They added three more big names to their list. Today’s Binance news is that they made a company announcement on April 25, and it was announced that its new list will include stock tokens linked to Microsoft -MSFT-, Apple -AAPL- and Microstrategy -MSTR- shares.
These tokens enable the investor to hold split shares of the stocks they are linked to and also these tokens allow them to trade.
Trading of MSTR, MSFT, and AAPL Stock Tokens will begin before the end of April.
Dates have been set for trading these stocks.
-MSTR stocks will be released at 13.30 UTC on April 26.
-The AAPL will be launched at 13:30 on April 28 at TSI.
-On April 30, MSFT is planned to be launched at the same time as APPL.
But only BUSD can be exchanged with Binance’s stablecoin.
According to the exchange, the tokens of each stock are said to be ‘fully backed by a depository portfolio of underlying securities’ by CM-Equity AG which is a Germany-based financial service provider).
These tokens will not be offered to some regions restricted by Cm-Equity. Some of these are China, Turkey, and the United States. These tokens can be purchased on Binance’s own page.
Binance aims to increase its stock tokens over time. Will this create competition?
Among the newest stock tokens, Coinbase (COIN) and Tesla (TSLA) stock tokens continue successfully.
According to shared data, the entry of stock tokens on the exchange was first initiated by FTX in October last year. FTX, which started fractional stock token trading, is a Hong Kong-based derivatives platform. Now, it is argued that Binance can compete with FTX with these new studies.
Binance News for the future:
Binance‘s work for stock tokens continues. They will increase diversity with their work in this area and offer various options to the investor. At this point, it was announced that the market demands will also be given importance and a special channel is tried to be provided to increase stock tokens.
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