Binance recently announced the launch of Binance Stock Tokens, which gives investors the opportunity to trade the equity market with zero fees, and a much lower cost.
Tesla is the first tokenized stock listed on the platform. All tokens are settled, denominated and collateralized in BUSD — and are backed by a depository portfolio of underlying securities.
Binance CEO, Changpeng Zhao, thanked Elon Musk for bringing cryptocurrencies to Tesla and, in exchange, they are “bringing Tesla to crypto.” In just 24 hours, TSLA trading volumes surpassed $10 million USD.
Trade Fractions of Tokenized Tesla Stocks
Users can now buy fractions of a Tesla stock on Binance, with a minimum trade size of one-hundredth of the token. This provides traders with exposure to the equity market at a much lower cost, considering one Tesla stock is currently price above $700 USD.
Binance will provide eligible investors with the same benefits that these companies give to their shareholders, like dividends, stock splitting, and others. The protocol is the latest to venture on the trend of tokenized stocks.
More Tokenised Stocks To Come?
Crypto-trading exchange Bittrex already offers lots of tokenised stocks from the equity market paired with Tether (USDT), including Tesla (TSLA), Apple (AAPL), and Gamestop (GME), amongst others.
Binance Coin BNB Soars 85% Upon N
Binance Coin (BNB) recently surged over 85% at the beginning of this month, hitting a new all-time high yesterday.
BNB’s recent bull run comes with the successful growth of the Binance Smart Chain protocol, which now supports over 5 million daily transactions and is being preferred by many DeFi protocols.
Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.
Credit: Source link
