Binance Exchange has launched tokenized stock trading. Tesla shares available

Popular cryptocurrency exchange Binance announced the listing of tokenized shares with zero commissions.This will allow the clients of the exchange to get access to traditional financial instruments without serious investments.

The first stock will be electric car maker Tesla (TSLA). The new service will make it possible to trade fractional tokens for the automaker’s securities.

Tesla's share price is currently hovering ataround $ 700 dollars. Instead of buying an expensive and inconvenient stock that requires a physical certificate to be stored, users can buy even a hundredth of Tesla's digital token stock. They will be exchanged for the Binance USD (BUSD) stablecoin issued by the Paxos Trust Company and pegged to the US dollar. Exchange tokens will not be exchangeable for shares.

Binance CEO ChangpengZhao (Changpeng Zhao) believes that digital equity tokens will bring traditional and cryptocurrency markets closer together, provide access to the stock market, leading the world to a “more inclusive financial future.”

The exchange launched a new product together withinvestment company CM-Equity AG and Swiss platform Digital Assets AG. Trading of tokenized shares will be carried out without commission. Residents of some countries will not have access to these tokens. Among them are China, Türkiye and the United States. In addition, to trade you will need to go through the KYC procedure.

According to today's announcement, the first quarter2021 was a very successful year for Binance: trading volume increased by 260%, and the number of users - by 346%. Binance Coin's native token (BNB) is up over 1600% this year.

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