As the cryptocurrency market continues to gain mainstream acceptance, the world’s biggest digital asset exchange, Binance, has announced that it will be listing the tokenized shares of Microsoft and Apple by the end of this month.
As soon as April 26, the investor on the trading platform will get exposure to BTC-heavy MicroStrategy. Meanwhile, Binance plans to list the Microsoft and Apple token on its exchange by April 30 and 28, respectively.
Since the beginning of this month, the famous digital asset exchange has made a foray into the tokenized stocks. Elon Musk’s electric car manufacturer, Tesla, was the first major company to list on Binance. Besides that, it has also added fractional stocks of the rival trading platform Coinbase – which went public earlier this month.
Plus, all the tokenized stocks on the platform are denominated by the exchange’s stable coin, BUSD. Although numerous other trading platforms offer identical products to their users, the world’s most used exchange is the only one to offer commission-exempted trade. Interestingly, the corresponding portfolio of securities back all the stock coins on its list. Interestingly, such tokenized stocks are only to be used during the American market hours.
On the other hand, Binance’s new products have attracted new scrutiny, with reports suggesting that the British financial watchdog had begun working with the platform to determine whether its offered products fall under the country’s security laws. Plus, Chinese, American, and Turkish investors are prohibited from using such stock tokens.