Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Binance Coin (BNB) => Topic started by: Sharpmax on April 12, 2021, 04:08:33 PM
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tradable stock contract at zero commission fee allowing traders to trade fractionally tokenized versions of mainstream stocks on Binance, The first stock token would be of Elon Musk-led Tesla which would be paired, traded, and fractionalized in Binance USD (BUSD). The decision to include tokenized shares is to offer a wider portfolio to the existing customers allowing them to trade the traditional stock market without having to leave the platform they are using. The Binance Stock token service is being launched in association with CM-Equity AG, a licensed investment firm in Germany, and Swiss-based Digital Assets AG, an asset tokenization platform. The trading hours of Binance stock tokens would be similar to the traditional stock market.Customers on the platform can start trading $TSLA stocks starting on 12th April where each tokenized share of TSLA would represent 1/100th of the actual market value of the stock. $TSLA is currently trading at $677.02, thus the $TSLA stock token would be valued at $6.77 a coin. Source (https://cryptonews.net/534032/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
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I do not understand this very well, because TSLA token on Binance is completely unrelated to Tesla stock, which means users cannot swapTSLA token to TSLA stock . There is also no evidence that each TSLA on Binance is backed by a real TSLA stock.
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I don't realy bother about it much because there are already many crypto to trade and i don't think i am ever going to trade stocks as a token. I have already thousands of crypto available to me to trade. So i dont care if Binance list them or not because i dont have much knowledge of stock market.