Tokenised Tesla Stocks to be traded on Binance Soon™

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In a bid to bridge the traditional market to the crypto market, Binance will be making tokenised Tesla Stocks available to their millions of users worldwide. Sadly, people in the USA, Turkey and China will not be able to participate in this offering.

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Unlike crypto assets where stringent KYC requirements aren't particularly required, users will need to have completed a KYC registration to trade the stocks.

According to Binance, this move is aimed at bringing even more opportunities for their users to earn.

Naturally, holding the stock or tokenised form grants the holder access to potential gains that it accrues.

The statement from the Binance camp about the token makes for good reading. Unlike traditional stocks with tight regulations and requirement to own at least one full stock before being issued a certificate, the tokenised form will take the form of typical crypto format, in that one could access even fractions of the stock.

According to Binance, the trading of even fractions of the token will be fully backed by a depository portfolio. The statement reads;

“Each digital token represents one share of equity stock and is fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Users will be able to trade fractional tokens.”

The stock will be pegged against BUSD and while the tokens are representatives of the stocks, they will not be able to give the holder the ability to redeem actual shares.

Drawing the crowd

This interesting move by Binance is one of many masterstrokes that they've been pulling all year. Other than the fact that BSC has been killing it on the DeFi part of town, BNB has seen over 800% uptrend this year alone.

On the surface of it, it obviously looks like a move to draw in the Tesla crowd and hopefully drive even more interest in crypto through the roof.

In a bull market like this, taking profit can be addictive but it is also a great time to dig foundations. Binance are very aware of the hype surrounding their product, so rolling out a new product of this nature only Stokes the already loud flames that's had people talking about an Eth flippening.

What's the end game? Your guess is as good as mine but considering what Elon's tweets about Doge meme coin didnto the price, can you imagine what it would do to a useful product like Binance? Some crazy times ahead.



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15 comments
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Tokenizing stocks is an amazing way to link the traditional financial markets and the markets of the future!

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Fair play to Binance, this is an impressive move

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I love the idea of tokenizing stocks. But the will the market cap contribute to the global cryptocurrency market cap or will it just boost the stock exchange

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That's an interesting view and something I wonder too. Considering how it was described, I think that value will trickle down to the stock exchange and will not reflect on crypto market.

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This is the future - just wait until other assets are tokenized, and hopefully some day the token maket will actually allow 24 trading and eliminate that awful morning when you wake up only to see it open down 20% on opening bell from a bad earnings report.

in crypto - while you can have a flash crash, your trailing stop losses can trigger while you sleep. This would be a huge benefit to individual traders.

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CZ doing all he can to make Binance the biggest. We'll see how it pans out.

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He's doing a very good job at it I must say

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Kind of a PR stunt just to add Tesla which added Bitcoin as its payment options but this is great !

They are also telling Wall Street that since they did not want to provide services to Crypto users; Crypto is COMING FOR THEM :D !

Cheers mate

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In one area, I think this is great news and it will definitely revolutionize the crypto space!

And yet, it also makes me wonder: there are so many vested interests in the stock market, so could it be that they will start suing Binance to try and reclaim some of the splendour that they're about to lose?

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That's pretty wild I'll be curious what the next stocks will be that they will on board. Hybrid of stocks and crypto are not possible.

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People from China and Turkey did not like your publication.

Here you can clearly see one more attempt to save the traditional economy, I would say that this way hundreds and hundreds of companies like apple, nike, microsoft will finally succumb to the crypto fever, to stay afloat in the middle of a global crisis.

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