Binance exchange has announced that it seeks to list more stock tokens. The exchange unveiled this news on April 26, noting that it will avail MicroStrategy (NASDAQ:MSTR), Apple (NASDAQ:AAPL), and Microsoft (NASDAQ:MSFT) stocks on its platform. Similar to the previously listed stock tokens, these new additions will also be priced and settled in BUSD, Binance’s stablecoin.
According to the announcement, each of the stock tokens will go live on Binance.com on different dates. The first one was MicroStrategy (MSTR/BUSD), which was scheduled to start trading at 1:30 PM UTC today. Apple (AAPL/BUSD) is set to be available at 1:30 PM UTC on April 28, and the Microsoft stock token (MSFT/BUSD) is slated to start trading at 1:30 PM UTC on April 30.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
In the publication, Binance noted it is continuously monitoring market demand and that it seeks to provide access to more stock tokens, which CM-E issues and sells. The exchange added that once the MSTR, AAPL, and MSFT stock tokens are listed, their trading will follow traditional exchange hours. However, they will not be available to the residents of Mainland China, Turkey, and the US, among other restricted jurisdictions.
Interested traders must meet all necessary Know-Your-Customer and other compliance requirements before they can start trading stock tokens.
Creating a gateway to traditional markets
This news comes after Binance launched zero-commission, tradeable stock tokens on April 12, this year. At the time, the exchange noted that this feature sought to allow crypto adopters to trade fractional stocks. Through these additions, the Binance ecosystem will support five stock tokens, with the other two being the Coinbase stock (NASDAQ:COIN), and Tesla’s stock (TSLA). Since their listing, both COIN and TSLA have performed well with volumes hitting £516,538.07 and £460,844.43 respectively.
Taking pride in unlocking this new opportunity for crypto adopters, Binance’s CEO, Changpeng Zhao, said,
Binance serves many users around the world and we are very pleased to be able to help them participate in the equity market.
He added that stock tokens show how the world can democratize value transfer seamlessly, minimize friction and costs to accessibility, without compromising on compliance or security. According to him, connecting traditional and crypto markets creates a technological bridge for a more inclusive financial future.