The top 3 crypto asset exchange on coinmarketcap, Binance took to their Twitter page early hours of this morning to announce it will be listing three stock token over the coming week, following the launch of tokens tracking the performance of Tesla and Coinbase shares earlier this month.
Binance announced it will launch tokenized stock pairings for leading business firms, Microstrategy (MSTR), Apple (AAPL) and Microsoft (MSFT). Binance slated MSTR Token to go live at 1:30pm UTC (2:30pm WAT) today April 26, AAPL to be launched at the same time on April 28 and MSFT to be traded from April 28.
The tokens will allow users to trade fractionalized units of share tokens, with minimum trade sizing set at one-hundredth of a token.
Binance asserts its stock tokens are “fully backed by a depository portfolio of underlying securies” held by German financial services provider, CM-Equity AG. The tokens will observe traditional stock trading hours. The token will only be tradaby against Binance’s Stablecoin (BUSD).
Binance’s stock tokens are not available to residents of Mainland China, the United States, Turkey and other jurisdictions restricted by CM-Equity.