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Binance adds three new Stock tokens to its platform 

Top crypto-asset exchange Binance announced today that it would list three new stock tokens over the coming week. According to Binance, it will launch tokenized stock pairings for multinational tech firms Apple (AAPL) and Microsoft (MSFT), as well as leading business intelligence firm Microstrategy (MSTR).

This announcement comes after the world’s biggest crypto exchange launched the tokens tracking the performance of Coinbase shares and Tesla earlier this month. New tokens will allow customers to trade fractionalized units of the share tokens. They can also enjoy the minimum trade sizing set at one one-hundredth of a token.

Binance’s MSTR tokens will go live at 1:30 pm UTC on April 26. The company plans to launch the AAPL tokens simultaneously on April 28, while MSFT tokens will be available from April 30.

Users can only trade the tokens against Binance’s stablecoin BUSD. Furthermore, Binance’s stock tokens won’t be available to residents of the United States, mainland China, Turkey, and other jurisdictions restricted by CM-Equity. The tokens will also observe traditional stock trading hours.

What are Binance Stock Tokens, and how can you use them?

The company explained that Binance Stock Tokens are tokens of stocks that trade on traditional stock exchanges. Binance also highlighted that each Stock Token represents one share of the relevant stock.

A depository portfolio of underlying securities held by CM-Equity AG (Germany) fully backs up these tokens. Stock Tokens’ holders will receive economic returns on the underlying shares, such as potential dividends, etc.

Binance stated that it plans to monitor market demand to provide a channel for more Stock Tokens sold and issued by CM-E. However, interested investors will be able to trade Stock Tokens only after satisfying relevant compliance requirements.

The exchange launched its first stock token on April 12. Meanwhile, it allowed its users to speculate on the price of Tesla. Binance listed fractional shares for Coinbase on April 15, as well.

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