Binance Allows Users to Trade Tokenized Stock Tokens Starting With Tesla

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Cryptocurrency exchange BINANCE is allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service starting with Tesla.

  • The crypto exchange announced Monday the launch of Binance Stock Tokens, zero-commission digital tokens which qualify holders for returns including dividends.
  • From 1.35 p.m. UTC April 12, users will be able to buy fractions of Tesla shares which trade at $677 a share at the time of writing.
  • Users will be able to purchase as little as one hundredth of a Tesla share, with prices settled in Binance USD (BUSD).
  • The exchange’s native crypto Binance Coin (BNB) has surged more than 25% in the last 24 hours, reaching an all-time-high of $637.44. It is priced at $590.51 at press time. It's not immediately clear what is driving the price of the coin.
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