Cryptocurrency exchange Binance listed the tokenized version of Apple stock (AAPL) on its new “stock token” market. At the moment, the crypto exchange supports four stock tokens for trading on its platform.
Binance is Bringing the Stock Market Closer to Crypto
Binance confirmed the listing of the Apple stock in a tweet on Wednesday, which means crypto users interested in buying AAPL can now access it in the form of a token. These stock tokens are pegged in the ratio of 1:1 to the underlying stock. Holders of these tokens will qualify for economic returns on the underlying shares, as well as potential dividends.
At the time of writing, the AAPL token was trading at the price of $133.51 USD, which represents about a 0.60 percent decrease over the last 24 hours.
Binance Stock Tokens are 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”).
Binance
Binance Now Supports Four Stock Tokens
So far, the crypto exchange supports four stock tokens, which include Apple (AAPL), MicroStrategy (MSTR), Coinbase (COIN), and Tesla (TSLA). Binance is open to tokenizing more stocks on its new market. On Friday, the exchange will list Microsoft stock (MSFT) tokens for trading, according to an announcement earlier this week.
All these coins are available for trading with Binance’s USD-backed stablecoin, BUSD.
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