MSTR tokens: April 26, 2021, at 1:30 pm UTC AAPL tokens: April 28, 2021MSFT tokens: April 30, 2021
Binance, one of the leading most cryptocurrency exchanges in the world, has announced its decision of listing 3 new stock tokens over the coming week. The decision comes after their early April announcement of launching tokens of Tesla and Coinbase.
Today, Binance has announced that they will launch tokens for the stocks of Microstrategy (a leading business intelligence company), Apple (the behemoth in the technology field), and Microsoft (another leader in the software world). Reports say that the symbols of the three stock tokens will be:
Apple (AAPL), and
These tokens will allow you to trade the share tokens’ fractionalized units. The minimum trading size of these tokens will be one one-hundredth of a token.
The launch timings of these three stock tokens will be:
- MSTR tokens: April 26, 2021, at 1:30 pm UTC
- AAPL tokens: April 28, 2021
- MSFT tokens: April 30, 2021
Binance crypto exchange has asserted that these 3 stock tokens are completely backed by “a depository portfolio of underlying securities”, which is held by CM-Equity AG (a German financial services provider). These tokens will reportedly be traded during the traditional stock trading hours.
You can trade these stock tokens only against BUSD, the stablecoin of Binance. These stock tokens can’t be traded by residents of many countries and jurisdictions restricted by CM_Equity such as mainland China, the USA, Turkey, and others.
In the month of April, Binance has launched two other stock tokens, the first of its kind in this exchange. On April 12 and 15, this crypto exchange had launched stock tokens for Tesla (TSLA) and Coinbase (COIN) respectively.
Reports say that Binance’s move of launching stock tokens comes just after FTX (a Hong Kong-headquartered crypto derivatives platform) launched fractionalized stock trading on derivatives of Apple and Tesla stocks in October 2020. Experts believe that this shows the increasing competition between Binance and FTX.
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