# Binance to launch Microstrategy, Apple, and Microsoft stock tokens
“# Binance to launch Microstrategy, Apple, and Microsoft stock tokens ”
On April 26, Binance announced it will launch tokenized stock pairings for leading business intelligence firm, Microstrategy (MSTR), in addition to multinational tech firms Apple (AAPL) and Microsoft (MSFT).
The tokens will allow users to trade fractionalized units of the share tokens, with minimum trade sizing set at one one-hundredth of a token.
Binance’s MSTR tokens are slated to go live at 1:30 pm UTC on April 26, while the AAPL tokens will launch at the same time on April 28, and MSFT tokens will be tradable from April 30.
The exchange asserts its stock tokens are “fully backed by a depository portfolio of underlying securities” held by German financial services provider, CM-Equity AG. The tokens will observe traditional stock trading hours.
Related: Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, XMR, CAKE
The tokens will only be tradable against Binance’s stablecoin BUSD. Binance’s stock tokens are not available to residents of mainland China, the United States, Turkey, and other jurisdictions restricted by CM-Equity.
Binance launched its first stock token on April 12, allowing its customers to speculate on the price of Tesla (TSLA). The exchange also listed fractional shares for Coinbase (COIN) on April 15.
Binance’s expansion into stock tokens appears to demonstrate increasing competition between it and Hong Kong-headquartered crypto derivatives platform, FTX — which launched fractionalized stock trading in October 2020, including derivatives tracking Tesla and Apple shares.
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
For forums sites go to Forum.BuradaBiliyorum.Com
If you want to read more News articles, you can visit our General category.