The exchange and issuer of the token Binance Coin wants to further develop its presence in the world of stocks. The platform will offer tokens for 3 new stocks this week: Microstrategy, Apple and Microsoft.
Are traditional financial stocks the future of crypto exchanges? The tokenization of these assets is on the move. And Binance intends to occupy a central place in this growing market.
On April 26, the platform announced the listing of three new securities through tokens exchangeable on Binance.com as of this week. The first available stock is that of MicroStrategy, a Bitcoin precursor to the balance sheet.
The token will be available for trading today. This will be followed by two additional shares on April 28 and 30. And Binance is again focusing on technology and growth stocks: Microsoft and Apple.
Customers of the exchange will be able to buy shares of these two global giants via tokens. For Apple, it will be from April 28. Microsoft will follow two days later, on Friday April 30.
Buying a token of this type is like buying a share. Indeed, the exchange specifies that the “Binance Stock Tokens” represent a common share of the concerned stock.
Thus, the stock tokens are fully backed by a portfolio of underlying securities held by CM-Equity AG. CM-Equity AG is a regulated European investment boutique and financial services provider. Its headquarters are in Munich, Germany.
Note that choosing a token rather than a traditional stock gives its owner the same rights. “Stock token holders will be able to benefit from the economic returns of the underlying shares, including potential dividends,” Binance points out.
And the exchange intends to further enhance its stock token offering. Binance says it is monitoring the demand for these digital assets to determine which ones are most attractive to its customers. These tokens will be among those issued and sold by its partner CM-E.
Finally, let’s note that the share tokens are “denominated, settled and collateralized in BUSD,” the second cryptocurrency of Binance, also the issuer of Binance Coin. This crypto, BNB, currently ranks as the 3rd largest cryptocurrency in the world.