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Binance lists more Stock Tokens that are tradable through crypto coins

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4 years ago

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Binance lists more Stock Tokens that are tradable through crypto coins

Today Binance lists three more stock tokens that are tradable through crypto coins. The three stock tokens that Binance lists today are Microstrategy (MSTR), Apple (AAPL) and Microsoft (MSFT).

Basically, Binance Stock Tokens are tokens of stocks that trade on traditional stock exchanges. These tokens are created on collateral held by a third party. If the price of the stock rises the stock token is expected to rise accordingly.

Similarly, if the price of the stock falls then the stock token is expected to fall accordingly. Two stock tokens are already in full trading mode on Binance i.e. COIN/BUSD and TSLA/BUSD.

Along with the above two stock tokens, the trading of Microstrategy (MSTR/BUSD), Apple (AAPL/BUSD) and Microsoft (MSFT/BUSD) stock tokens to start soon as per the schedule.

  • Microstrategy (MSTR/BUSD) at 2021-04-26 1:30 PM (UTC)
  • Apple (AAPL/BUSD) at 2021-04-28 1:30 PM (UTC)
  • Microsoft (MSFT/BUSD) at 2021-04-30 1:30 PM (UTC)

According to the official blog post of Binance, “Stock Tokens are fully backed by a depository portfolio of underlying securities held by CM-Equity AG, Germany (“CM-E”).”

“Holders of Stock Tokens will qualify for economic returns on the underlying shares, including potential dividends.”

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.