Binance unveils fractional stock purchase capability with stock tokens

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Binance

 

Long a leader in crypto currency exchanges, Binance is now going to offer users the ability to buy fractions of company stocks, or, as Jamie Crawley puts it at Coindesk, “tokenized stock tokens.”

 

The pilot project will involve something called Binance stock tokens, which will offer commission-free buy-in on the shares of a particular publicly traded equity.

 

Crawley reports traders will be able to buy as little as one 100th of a Tesla stock, and receive dividends as part of the new Binance model.

 

“Stock tokens demonstrate how we can democratize value transfer more seamlessly, reduce friction and costs to accessibility, without compromising on compliance or security,” Binance CEO Changpeng Zhao said in a press release, according to reporting at The Street. “Through connecting traditional and crypto markets, we are building another technological bridge for a more inclusive financial future.”

 

However, these services will not be available in the U.S., or in mainland China, due to differences in international regulation.

 

Meanwhile, Binance coin (BNB) is also ascending in price, in apparently unrelated market trends.

 

“Investors are rushing to find the next cryptocurrency to blow up after the breakout quarter for altcoins,” writes Brenden Rearick. “Bitcoin is treading water at the $60,000 mark, while smaller plays are getting lots of love. While Wall Street speculates on the next coin to see meteoric gains, one pick is rising to the top. Binance Coin is ascending today, and its newest unveiling is exciting the whole crypto world, and probably Elon Musk. The result is a wave of Binance Coin price predictions.”

 

So there are probably at least two reasons to be bullish about Binance now. Think about what these “tokenized tokens” represent in a rapidly changing defi sector.And consider: do you want to participate in the new tokenized asset revolution?

 

 

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