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It is now possible to buy Tesla shares on Binance

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Binance has announced the launch of new stock tokens that can be traded at zero fees.

The launch took place today, Monday, April 12, 2021, with the token for the actions of Tesla.

These Binance stock tokens They allow users to trade fractional shares and are denominated, settled, and insured on BUSD, which is Binance's stablecoin pegged to the value of the US dollar.

The first Binance stock token to be listed was Tesla Inc. (TSLA), with operations in the exchange pair TSLA / BUSD to from 1:35 p.m. (UTC). This will allow exchange users to trade fractions of Tesla shares on the same Binance website.

However, stock token trading will follow the business hours of traditional exchanges and is not available to residents of certain restricted jurisdictions. In addition, users must pass the KYC procedures, and any other relevant compliance measures, in order to access the service.

Binance Stock Tokens They are digital tokens that are fully backed by the underlying securities that represent the issued tokens. Therefore, holders of these tokens also qualify for the economic returns of the underlying shares, including possible dividends.

The goal is to democratize access to traditional capital markets, as well as cryptocurrency markets.

Stock tokens on Binance

Traditionally, trading stocks can be expensive and, in some jurisdictions, brokerage accounts can also be difficult to access. On the contrary, Binance stock tokens allow for greater financial participation Due in part to the fact that they break down a highly sought-after regulated asset class into more accessible units.

In this way, cryptocurrency users who are already familiar with fractional units of cryptocurrencies can diversify into capital assets using a familiar digital currency and platform. On the contrary, for conventional investors, there is the opportunity to access smaller amounts of shares and at the same time gain exposure to the cryptocurrency market.

Binance stock tokens are fully backed by the underlying market so that holders can enjoy certain benefits for shareholders. For example, they will be entitled to receive any dividend, which will be credited directly to the user's account, and they will also be able to take advantage of support for other company actions, such as the stock split.

However, these tokens do not confer any legal rightsTherefore, their holders do not have legal or voting rights and cannot participate in the company's AGM.

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