And now, the biggest crypto exchange by volume has announced that it will be listing the COIN stock token later today. COIN is the ticker symbol that Coinbase shares trade as, and this is how Binance users will be able to trade them as, too.
You may recall that Binance said on Monday that it is now allowing users to buy fractions of the shares of companies with a new tokenized stock trading service. Things started with Tesla, but the crypto exchange is coming good on its promise of listing more stock tokens and features.
This is what the exchange states:
“Binance will continue to respond to market demand by listing more stock tokens and features. Trading of stock tokens will follow traditional exchange hours and is not available for residents in Mainland China, Turkey and other restricted jurisdictions.”
After the token is listed, the COIN/BUSD trading pair will be launched that will enable Binance users to trade fractional shares of Coinbase.
Coinbase stock had a reference price set at $250 pre share, giving the company a pre-trading valuation of $66.5 billion. As expected, the shares met with extreme volatility on the first day, with prices going up as high as $400, before dipping down to low $300s.
You can find out more about stock tokens over at Binance.
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