Top crypto asset exchange Binance has announced it will list three new stock tokens over the coming week, following the launch of tokens tracking the performance of Tesla and Coinbase shares earlier this month.
On April 26, Binance announced it will launch tokenized stock pairings for leading business intelligence firm, Microstrategy (MSTR), in addition to multinational tech firms Apple (AAPL) and Microsoft (MSFT).
The tokens will allow users to trade fractionalized units of the share tokens, with minimum trade sizing set at one one-hundredth of a token.
Binance’s MSTR tokens are slated to go live at 1:30 pm UTC on April 26, while the AAPL tokens will launch at the same time on April 28, and MSFT tokens will be tradable from April 30.
The exchange asserts its stock tokens are “fully backed by a depository portfolio of underlying securities” held by German financial services provider, CM-Equity AG. The tokens will observe traditional stock trading hours.