Crypto Exchange Binance Expands Stock Token Offerings With Addition of Microsoft, Apple, and MicroStrategy
Global crypto exchange Binance is expanding its stock token offerings, giving customers the opportunity to invest in the tech giants MicroStrategy, Apple and Microsoft.
Binance first launched its equity-based products earlier this month with the rollout of tradeable Tesla stock tokens. Each of Binance’s stock tokens is fully backed by a depository portfolio of underlying securities held by their partners.
The crypto exchange has partnered with German investment firm CM-Equity AG and Switzerland-based asset tokenization platform Digital Assets AG to facilitate the sale and storage of the new tokens.
All four of the stock tokens are paired with the Binance USD stablecoin (BUSD). MicroStrategy’s token (MSTR/BUSD) launched on Monday, Apple’s (AAPL/BUSD) rolls out on Wednesday, and Microsoft’s (MSFT/BUSD) is scheduled to start on Friday, according to a Binance press release.
The exchange doesn’t charge commission on stock token transactions and notes that, unlike traditional stocks, the new tokens allow investors to purchase fractional shares of the listed companies. Holders of the tokens on Binance will still be eligible to receive dividends if and when they become available, as well as benefit from stock splits.
Unlike the trading of regular crypto assets which takes place round the clock, seven days a week, the trading of stock tokens on Binance will only occur during traditional exchange hours.
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Author: Daily Hodl Staff