Leading cryptocurrency exchange Binance has listed tokenised stocks for trading – including TELSA (TSLA) and Coinbase (COIN), with the latter recently launched on the NASDAQ exchange on Wednesday.
The tokenized version of Tesla and Coinbase will make company shares more accessible to crypto users who can’t trade them directly on the stock market for whatever reason.
Binance Postponed COIN Token Debut
The Coinbase stock tokens were supposed to be listed on Binance yesterday, shortly after it went live on NASDAQ. However, the exchange temporarily postponed the listing “due to market volatility.”
However, a separate announcement on Thursday confirms the Coinbase stock token has been launched on Binance, meaning Coinbase shares are now trading on the exchange.
How To Buy/Trade Them
To trade the tokenised stocks, here are some useful links:
At the moment, Binance only supports stock token trading with its stablecoin BUSD, for example using the token pairs COIN/BUSD.
The tokens will be pegged to the actual market price of COIN on NASDAQ. Hence, it enables crypto enthusiasts to “access” the Coinbase shares without having to trade directly on the stock exchange, which may have higher fees.
Binance Stock Tokens are zero-commission digital tokens fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Holders of stock tokens qualify for economic returns on the underlying shares, including potential dividends.
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