Major Signals
- Binance is listing Apple, Microstrategy and Microsoft stocks.
- Microstrategy will be listed today.
- Their tickers are MSTR, MSFT, AAPL.
Earlier this month largest centralized cryptocurrency exchange, Binance announced their plans to start listing tokens of stock. The company's foray into tokenized stock trading started with the first company being Technoking Elon Musk's electric car manufacturing company, Tesla. The tokenized stocks were made available on Binance, Tesla's being listed as TSLA.
Shortly after that, Coinbase stock (COIN) which had been listed on NASDAQ this month as a tradable stock joined it's list of tokenized stocks. The COIN token attracted a lot of attention from investors who rushed in to buy the stocks.
Binance has confirmed today, 26th of April that it will commence selling the Apple, Microsoft and MicroStrategy tokenized stocks by the end of April.
Bitcoin-heavy MicroStrategy will be the first to be listed on the exchange. Microstrategy will trade under the ticker, MSTR and will trade as a MSTR/BUSD pair. Apple and Microsoft will trade under these respective tickers and pairs, AAPL & MSFT; AAPL/BUSD & MSFT/BUSD.
Microsoft and Apple have no deep cryptocurrency involvement, infact it's not sure if the companies own any bitcoin. Their listing on Binance could be ascribed to their companies' prominence and the fact that they are the two largest companies worldwide.
MicroStrategy, in contrast, is heavily involved in the crypto industry, and Bitcoin in particular. Back in August last year, the company announced its first huge purchase of BTC worth more than $200 million. The company has since made a number of frequent purchases worth more than $2 billion spurred on by it's founder and crypto enthusiast, Micheal Saylor.
Saylor was one of the primary cryptocurrency's most vocal proponents. He earlier this year rounded up some CFO's and company executives and conducted a webinar to educate them on cryptocurrency and bitcoin and how it will benefit them. He is known as a long-term bitcoin holder and has been quoted as saying he would not sell for a long time.
Although popular stock trading platform FTX also offers comparable models, Binance provides free trading of inventories.
Apple and Microsoft will be listed on the 28th and 30th.It must be noted that the stock tokens of Binance can only be traded during US market hours.
Binance's latest offering, which is expected to revolutionize stock trading, has drawn new regulatory criticism.
The Financial Times announced on April 22 that the Financial Conduct Authority in the United Kingdom had started to work with the exchange to decide if the commodity complies with the country's securities laws. He mentioned that if tokens are transferable, may be exchanged on a cryptocurrency exchange, and are fitted with economic entitlements such as dividends or cash settlements, they are shares and must be disclosed in a financial statement.
Conclusion
Binance has put a new spin on a traditional Financial Industry. The world of stock trading as we know it has shifted. Cryptocurrencies trading has merged with stock trading and buying us is at the head of this movement.
This birth will yet symbolize greater things for the crypto industry and would even allow stock traders to see the similarities between their industry and ours. This could mean that in the future these two spaces could merge soon.
Question of the day
What do you think of the listed stocks? Let us know in the comments.
