Shares of well-known companies are heading crypto exchange
|Slavomír Kaňuk|source|3765x
Font size:-/+

Shares of well-known companies are heading crypto exchange

The well-known cryptocurrency exchange Binance announced another interesting news. According to today's blog post, its users can look forward to tokenized shares of well-known companies. Listed companies should include Apple, MicroStrategy and Microsoft. The tokens are expected to be denominated in the exchange stablecoin - BUSD.


Binance thus expands its current offer, which also includes Elon Musk’s Tesla and the shares of the rival exchange Coinbase, which was listed on April 14 this year. Similar products are also offered by the FTX exchange, but Binance has an advantage in this, as the shares are traded without commission on their platform. Each tokenized share represents one ordinary share and, according to the contribution, is covered by a deposit portfolio of underlying securities held by the German company CM-Equity AG. It is also worth noting that stock tokens can only be traded during the trading hours on the US stock markets.


Join us right now >>> REGISTRATION


Behind these innovations is also a relatively demanding and lengthy regulatory process. The authorities have not yet taken a decision on the Binance issue, but in principle, if the tokens are transferable, they can be traded on the exchange and concern dividends and cash settlements, they are securities and they are subject to control. This is the opinion of the UK authority. Trading in stock tokens is prohibited for residents of the USA, Turkey and China.


Binance said that despite the unclear situation with the regulatory process, they will continue to monitor market demand and may bring more tokenized stocks to its platform in the future. The shares of MicroStrategy will start trading today, followed by Apple on April 28 and trading in Microsoft shares on April 30.


Read also: EXCHANGE BINANCE BURNED ITS TOKENS WORTH $ 600 MILLION


Such a connection of cryptocurrency exchanges with the traditional markets is very interesting, as these exchanges have a number of users who would find it difficult to trade shares. At the same time, cryptocurrencies are becoming known to investors from other markets, which certainly contributes to the ongoing bull run.

Comments

You must be logged in to add a comment.

DOLLERO NEWS

Will ETH show us new highs soon?

ETH has shown us a new maximum of $ 3,500 and according to many analysts, we are not ending at this price. How far can it go and what is behind its growth?

Show all news