The major cryptocurrency exchange Binance has announced that it will add even more stock tokens to its platform. Three new stock tokens will be launched in the coming week, Binance said in an announcement today.
Stock tokens are tokenized shares of listed companies. This means that the shares of these companies are represented on the blockchain and tradable on exchanges. The advantage of this is in addition to the fact that one can trade crypto and stocks within the same platform, but also can buy small pieces of a stock. Binance stock tokens allow users to buy one-hundredth of a share.
Binance already promised during the listing of Tesla and Coinbase’s stock tokens that it will add more tokens. In the coming week, stock tokens from MicroStrategy (MSTR), Apple (AAPL) and Microsoft (MSFT) will become tradable on the trading platform.
Microstrategy is a business intelligence company best known for its massive bitcoin (BTC) investments. The company invested $ 2.2 billion in bitcoin. That investment is now worth $ 4.8 billion. Apple and Microsoft are both tech giants and therefore certainly fit into Binance’s product in that regard.
The Microstrategy stock tokens will become tradable today. Apple stock tokens will see the light on April 28, followed by Microsoft’s on April 30.
Many see the tokenization of assets, including stocks, as the future of investing.