Binance adding more stock tokens for trading through cryptocurrency

Binance is adding three more stock tokens including MicroStrategy (MSTR), Apple (AAPL), and Microsoft (MSFT) to be available to trade through cryptocurrency.

Binance adding more stock tokens for trading through cryptocurrency

Stock Tokens are tokens of stocks that trade on traditional stock exchanges and are pegged to the real stock price. These tokens are created on collateral held by a third party. If the price of the stock rises the stock token is expected to rise accordingly.  Similarly, as the price falls then the stock token is expected to fall accordingly. 

Binance has already added two stock tokens previously including COIN and TSLA, both are available to trade via BUSD.

Along with the above two stock tokens, the trading of Microstrategy (MSTR/BUSD), Apple (AAPL/BUSD) and Microsoft (MSFT/BUSD) stock tokens to start as per the following schedule:

  • Microstrategy (MSTR/BUSD) at 2021-04-26 1:30 PM (UTC)
  • Apple (AAPL/BUSD) at 2021-04-28 1:30 PM (UTC)
  • Microsoft (MSFT/BUSD) at 2021-04-30 1:30 PM (UTC)

According to the official blog post of Binance, “Stock Tokens are fully backed by a depository portfolio of underlying securities held by CM-Equity AG, Germany (CM-E).”

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