Leading crypto asset trading platform Binance announced that it will list three new exchange tokens over the next week after launching tokens to track the performance of Tesla and Coinbase stocks earlier this month.
On April 26, Binance announced that it will release a stock-coded summary of the leading business intelligence company, Microstrategy (MSTR), as well as multinational technology companies Apple (AAPL) and Microsoft (MSFT).
Tokens will allow users to trade fractional units of tokens for an exchange, while the minimum transaction size is equal to the cent symbol.
MSTR tokens are scheduled to launch on Binance at 13:30 UTC on April 26, AAPL tokens will be launched simultaneously on April 28, and MSFT tokens will be in circulation from April 30.
Oslo Bowers claims that the exchange markings are “fully backed by the Amin Securities Core Portfolio” owned by German financial services provider CM-Equity AG. Tokens will follow traditional storage times.
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Tokens can only be traded against the Binance BUSD stable currency. Binance stock tokens are not available to residents of China, USA, Turkey, and other jurisdictions restricted by CM-Equity.
On April 12, Binance launched the first token to be traded on the exchange, allowing clients to speculate on the Tesla (TSLA) price. Oslo Bourse also listed fractional Coinbase (COIN) shares on April 15th.
Binance’s expansion into a token swap appears to show increased competition between it and Hong Kong-based cryptocurrency derivative platform, FTX, which launched partial stock trading in October 2020, including derivatives that track Tesla and Apple shares.