May 15, 2021

Binance Adds Tesla Tokenized Shares Trading

Binance Adds Tesla Tokenized Shares Trading

Following FTX and Bittrex, the cryptocurrency exchange Binance began offering trading in tokenized shares of companies.

TSLA will be the first action available on the stock exchange.The token price will be equal to the share price set in Binance USD (BUSD). Users will be able to buy a portion of the token. The company plans to expand the list of tokenized shares in the future.

Tesla Tokens (TSLA) are available to traders afterpassing the KYC procedure. Unlike FTX and Bittrex, which offer 24/7 stock trading, Tesla shares will be available on Binance according to the Nasdaq schedule (13: 30-20: 00 GMT).

Investors from the US, mainland China and Turkey will not be able to trade stock tokens.

Holders of tokenized shares don't get everythingthe rights of stock market shareholders. For example, traders will not have the right to vote, access to corporate documents, or the ability to sue.

Otherwise, Binance tokenized shares will behave in the same way as the shares they represent.

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