Binance Stock Token Launch, First Target Tesla

[Digital Today Reporter Hyunwoo Choo] On the 12th (local time), Binance, a virtual asset exchange, launched a specific stock-following derivative called’Binance Stock Tokens’. The first target stock is Tesla.

Binance Stock Tokens are token derivatives that follow a specific stock price. You can trade according to the opening hours of the stock market and there are no fees. In addition, 1 share is regarded as 1 token, but since the transaction unit can be divided into 1/100, it is easy to invest in small amounts.

Binance explained that it is a product with a high investment value in that it can invest in both the traditional stock market and the virtual asset market, as well as securing liquidity and enjoying high flexibility.

Binance introduced Tesla Token as the first product of Binance Stock Token. This is how the value of the token is determined according to the fluctuations in Tesla stock price.

Binance will introduce a variety of token derivatives on the basis of Tesla stock tokens. In addition to transactions, it plans to provide a wide range of virtual asset financial services, from loans and savings products to platforms.

“Stock tokens provide a more versatile and accessible low-cost investment vehicle without compromising market regulation and security,” said Changfeng Zhao, Binance CEO. It will be a new link.”

Due to Binance’s aggressive business expansion, the trading price of Binance Coin (BNB), which was in the 40-dollar range earlier this year, soared to $590 in April. Based on the CoinMarket Cap, the current market cap of Binance Coin is at $91 billion, up to 36.5% of the Ethereum market cap of $249 billion.