Binance has launched zero-commission, tradable stock tokens.
The launch gives access to both cryptocurrency and traditional stock markets.
Each stock token on Binance will represent one share of equity stock, which is fully backed by shares stored in a depository portfolio of underlying securities, in cooperation with investment firm CM-Equity AG and asset tokenization platform Digital Assets AG.
The first stock tokens on Binance will be of Tesla Inc., the largest automaker by market capitalization.
Tesla stock tokens on Binance will have a minimum trade size of one-hundredth of a stock token, representing the same fraction of a Tesla share.
Stock tokens are priced and settled in Binance USD (BUSD), a regulated stablecoin pegged to the U.S. dollar and issued by Paxos Trust Co.