Crypto exchange Binance has officially announced the release of zero-commission tradable stock tokens that will permit users to trade in fractional stocks. All of the stock tokens are denominated, settled, and collateralized in BUSD, a US dollar-denominated stablecoin.
The first BST listed is Tesla Inc. The trading for TSLA/BUSD opened yesterday.
The Binance stock tokens represent digital tokens that are supported by a portfolio of underlying securities. Those who hold these tokens are qualified for economic returns on the underlying shares, including potential dividends.
The TSLA stock token has just been released, but the company plans to “respond to market demand” by listing more stock tokens and features in the following months.
This is just the latest step of Tesla getting involved in the world of crypto, following the announcement in March that Tesla made a $1.5 billion investment into Bitcoin.