Binance cryptocurrency exchange is expanding access to tokenized stock trading. The platform will be able to trade in tokens-shares of Apple, Microsoft and Microstrategy.
Trading in Microstrategy stock tokens starts on April 26. Apple tokenized stock trading will launch on April 28, and Microsoft stock tokens will begin trading on the Binance platform on April 30.
The announcement emphasizes that the tokens are “fully backed” by a portfolio of related shares held by the German financial services provider CM-Equity AG. Tokenized shares can only be traded in pairs with the BUSD stablecoin pegged to the US dollar. In addition, access to trading such tokens is closed to residents of the United States, China, Turkey and several other countries.
Recall that the ability to trade Tesla tokenized shares appeared on the Binance platform on April 12. And on April 15, the Coinbase stock trading feature was added to the exchange. At the same time, the function met with an ambiguous reaction from the regulators. For example, the German Federal Agency for Financial Supervision (BaFin) views the sale of tokenized shares on Binance as a possible violation of securities laws.
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