• Business - Companies
  • Updated: April 26, 2021

Binance Launches Tokenized Stocks of Microsoft, Apple and Microstrategy

Binance Launches Tokenized Stocks of Microsoft, Apple and Mi

Source: The Cryptonomist

Binance cryptocurrency exchange has announced it will add the ability to trade tokenized shares of Microsoft, Apple, and MicroStrategy.

The tokens will allow users to trade fractionalized units of the share tokens, with minimum trade sizing set at one one-hundredth of a token.

READ ALSO: Binance Begins Tokenized Stock Trading

The move by the world's leading cryptocurrency exchange is an expansion of its stock token listings which began two weeks ago. Binance launched its first stock token on April 12, allowing its customers to speculate on the price of Tesla (TSLA). The exchange also listed fractional shares for Coinbase (COIN) on April 15.

Binance’s MSTR tokens are slated to go live at 2:30 pm WAT on April 26, while the AAPL tokens will launch at the same time on April 28, and MSFT tokens will be tradable from April 30.

READ ALSO: Binance Announces Listing Of Rival Coinbase's Stock Token

The exchange says that each of the stock tokens is “fully backed by a depository portfolio of underlying securities” held by CM-Equity AG, a financial services provider based in Germany. The tokens are not available to residents of the United States, Turkey, China, or other jurisdictions restricted by CM-Equity. The tokens can be traded on Binance’s website.

It’s worth noting that the Binance Stock Tokens come with certain restrictions. They are tradable only during US market hours and are not available for residents in Mainland China, Turkey, the US, and other nations.

MicroStrategy is the largest cryptocurrency holder among public companies. She owns 91.5 thousand bitcoins. In April, the company decided to pay its board of directors in bitcoin.

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Oluwatosin Ogunjuyigbe
Oluwatosin Ogunjuyigbe

A seasoned business content writer, financial markets analyst, and tech enthusiast.

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