Three New Stock Tokens Are Added to Crypto Exchange Binance

Three New Stock Tokens Are Added to Crypto Exchange Binance
  • Binance will list Apple, Microsoft, and Microstrategy on its platform.
  • Tokens can be tradable only at traditional stock trading hours.
  • The tokens are unavailable to residents of China, the United States, and Turkey.

Binance has announced its launch of three new stock tokens Apple (AAPL), Microstrategy(MSTR), and Microsoft (MSFT). 

Moreover, the tokens can be traded on the Binance exchange. However, the trades can be done into fragment units of the share tokens, whereas the minimum amount is set as one-hundredth of a token.

Microstrategy (MSTR) stock tokens will be launched at 1:30 pm UTC on 26th, April by Binance. Followed by Apple (AAPL) tokens to be launched at the same time on 28th, April. Microsoft (MSFT) tokens will be available on Binance at 1:30 pm UTC on 30th, April.

Additionally, the exchange declares that its stock tokens are completely backed by a depository portfolio with fundamental protections which is held by financial service provider CM-Equity AG of Germany.

These new stock tokens were followed by the positive performance of Tesla(TSLA) and Coinbase(COIN) which were listed earlier on the Binance exchange this month.

Tesla and Coinbase Stock Tokens Listed Earlier on Binance

Recently, Coinbase and Tesla Stock tokens were listed on Binance.  Tesla was available to trade from 12th, April on Binance. More so, it has gained attention from its regulators for trading “Stock tokens”.

According to the SEC report, Binance has already received a red flag from Hong Kong firm Laws for launching two stock tokens earlier. Moreover, it is stated that Binance doesn’t seem to have the license to trade or share tokens in their region.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.