Binance Launches Tesla Tradable Stock Token
Binance is stopping at nothing to keep its customers on its exchange by providing tradable stock token with Tesla being the first with more to follow.
Crypto exchange Binance has announced the launch of zero-commission tradable stock tokens that allow users to trade in fractional stocks. All stock tokens are denominated, settled and collateralized in Binance USD (BUSD), a US dollar-denominated stablecoin. Source
This is tokenization stretching into the stock market, being presented with the chance of owning a fraction of Tesla is awesome, an opportunity not available to the average Joe years back.
Depending on demanding for tradable stock tokens more tokensied stocks will follow.
$TSLA is currently trading at $677.02, thus the $TSLA stock token would be valued at $6.77 a coin. Source
With zero-commision trades, in addition to demand for BNB in accessing BSC for DeFi, it will be interesting to see how tokenized stocks perform on Binance, crypto is spreading into every aspect of life at alarming rate and BNB is positioned to surge higher.
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