The launch of the Tesla token on the largest crypto exchange Binance was quite successful, since on the first day the trading volume amounted to approximately $ 10 million.
As you know, yesterday the exchange launched tradinga new product - tokenized securities, or tokens representing the shares of companies that have successfully passed the listing. The first such token was TSLA paired with the Binance BUSD stablecoin.
TSLA token reflects the value of shares of the same nameTesla is listed on the Nasdaq and monitors the dynamics of the stock market. However, unlike buying real shares, the TSLA token does not give voting rights in Tesla, while Binance's guidance indicates that the owner has the right to claim dividends and economic benefits from the underlying shares.
In any case, in less than 24 hours, 14,000 share tokens worth $ 9.8 million were sold.
Thus, thanks to this instrument, the stock market enters the cryptocurrency market.
"Thanks to Elon Musk for bringing cryptocurrency to Tesla, and we are transferring Tesla to cryptocurrency."Binance CEO tweeted.
Especially for beginners, we have prepared a detailed guide: How to buy tokens on the Binance crypto exchange for rubles?
More about the innovation
Tokenized Stock Assets (Tradable StockTokens) on Binance are digital tokens 100% backed by a depository portfolio, which also backs the underlying securities. They are freely tradable tokens with zero commission.
If there is market demand, Binance willpublish even more tokenized shares and develop functionality for working with them. Stock tokens will be traded at specific hours, consistent with established market traditions. Some restricted jurisdictions (such as mainland China and Turkey) cannot trade.
A detailed guide to working with Tradable Stock Tokens is already posted on the exchange website.
In addition, everyone who wants to trade suchassets, it is recommended that you first read the Service Agreement and make sure you agree with all of its clauses. The document contains notices about possible risks and warnings about other nuances of using the service.
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