Crypto exchange Binance to offer tokenized stocks of Apple, Microsoft, and MicroStrategy
Crypto-currency exchange Binance will gradually list tokenized shares of tech giants Apple (AAPL), Microsoft (MSFT) and MicroStrategy (MSTR) on its trading platform next week, according to an announcement released today.
New securities tokens are available at https://t.co/QILSkzOI1K (2021-04-26).
As with stablecoins, Börsentoken are bundled with specific assets and their price is set higher. In the light of the Decision, each symbol used in the financial statements must represent a component of the activity concerned.
At the same time, the shares are fully covered by the real shares of the respective companies held by the German financial services provider CM-Equity AG. The holders of share certificates are therefore fully entitled to receive the income from the underlying shares, including potential dividends.
Deployment in phases
These three exchanges are included in the trading pairs with the price Binance USD (BUSD). MicroStrategy (MSTR/BUSD) today, the 26th. April, 18:30 GMT, added first.
Apple’s press release (AAPL/BUSD) is scheduled for Wednesday, April 28 at 18:30 GMT. Finally, the Microsoft stock markers (MSFT/BUSD) are ready for trading on Friday the 30th. April, to begin trading at the same time. The trading of the markers of the new exchange will take place according to the schedule of the traditional exchange.
Trading in the stock tokens […] is not available to residents of mainland China, Turkey, the United States and other restricted jurisdictions as determined by CM-E. Interested traders will not be able to trade in branded tokens until they have met all necessary know-your-customer and other relevant requirements, Binance added.
Stocks and cryptography intertwine
As mentioned, traditional stocks have recently been heavily integrated into cryptocurrency-focused ecosystems.
For example, Ethereum-based decentralized financial platform Synthetix recently launched a collection of synthetic stocks, including Apple synthetic stocks (sAAPL), Amazon synthetic stocks (sAMZN), Netflix synthetic stocks (sNFLX), Facebook synthetic stocks (sFB), and Google synthetic stocks (sGOOG) – collectively known as FAANG.
At the same time, traditional financial platforms are converging to cryptocurrencies. One of them, the New York Stock Exchange, announced in mid-April that it would issue non-displayable tokens (NFTs) for shares under the name First Trade NFT.
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