Tesla is the first stock listed on Binance stock token
Binance will introduce stock token trading, foreign media reported on the 12th local time.
It is reported that the first stock of Binance stock tokens will be electric vehicle maker Tesla.
Each newly issued token represents a stock and can be settled with Binance’s stablecoin, Binance USD (BUSD).
Binance said the new investment option, Equity Tokens, will allow investors to participate in the larger financial markets while lowering their transaction costs.
Equity tokens are not stocks, but give investors the right to invest in the assets of a specific company, just like investing in stocks. However, unlike traditional stocks, Binance’s stock tokens are divisible, so you can invest in as many specific stocks as you want.
put it simply Unlike stocks that are traded at a specific amount per share, it is possible to buy and sell in installments like virtual assets. In this way, expensive stocks can be purchased cheaply without a separate stock split. Even people with little capital can split the stock of expensive companies and purchase Tesla stock worth 1,000 won.
With this news, the price of Binance’s own token, Binance Coin (BNB), is skyrocketing.
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