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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Binance offers Tesla stock token, could Coinbase (COIN) follow?

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Binance BNB BNBUSDT

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Crypto exchange Binance has announced the launch of a new product, tokenized shares of publicly traded companies. The first to be listed is Elon Musk-led carmaker Tesla.

Trading with these tokens will be available with zero commission and accessible to all users of the exchange via their account. According to an official release, each TSLA token on Binance will represent one share of Tesla’s equity stock.

Binance’s product, according to the release, will be backed by actual Tesla shares stored in a “depository portfolio” based on Tesla securities.

The product has been launched in cooperation with CM-Equity AG and asset tokenization platform Digital Assets AG, according to Binance. The exchange stated the following in its post:

Tesla stock tokens on Binance will have a minimum trade size of one-hundredth of a stock token, representing the same fraction of a Tesla share. Stock tokens are priced and settled in Binance USD (BUSD), a regulated stablecoin pegged to the U.S. dollar and issued by Paxos Trust Co.

Binance opens up to new possibilities

Users interested in dealing with tokenized shares on Binance must adhere to traditional market trading hours. In addition, they must complete a Know Your Customer (KYC) process.

Binance’s product will give its users access to a new investment tool, tradable by fractions and, therefore, at a lower cost than that offered in the traditional market.

As a bonus, investors will be eligible to receive benefits that these companies give to their shareholders. For example, they may be eligible to receive dividends to return capital equivalent to the underlying equity, stock splitting, among others.

Binance CEO Changpeng Zhao thanked Tesla CEO Elon Musk for bringing cryptocurrencies to his company. In exchange, Zhao decided to “bring Tesla into the crypto space”. The executive stated regarding this new release:

Stock tokens demonstrate how we can democratize value transfer more seamlessly, reduce friction and costs to accessibility, without compromising on compliance or security. Through connecting traditional and crypto markets, we are building another technological bridge for a more inclusive financial future.

Via its Twitter handle, Binance asked its followers which company should be listed next.

A large portion stated that Coinbase (COIN) should join Binance as a tokenized stock once it goes public on April 14 of this year. However, no official announcement has been made.

https://twitter.com/binance/status/1381627558630948875

CEO of CM Equity AG, Michael Kott said:

CM-Equity AG and Digital Assets AG, as the engineers of the product, are pleased to pioneer an innovative experience on the Binance platform. This new kind of token combines different asset classes that are offered in one single marketplace for instant settlement in a compliant, scalable, and sound format.

Binance native token BNB is on a furious rally breaking every all-time high that stands in its way. At the time of writing, BNB trades at $591,94 with 17.8% profits in the 24-hour chart. In the weekly chart, is up 69.6%.

Binance Coin BNBUSDT
BNB claiming a new All-Time High in the 24-hour chart. Source: BNBUSDT Tradingview.
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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