In an announcement, Binance said after it lists the token the COIN/BUSD trading pair will be launched allowing its exchange users to trade fractional Coinbase shares.
Coinbase’s COIN stock has a reference price of $250 per share giving the exchange a pre-trading valuation of $66.5 billion.
“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,” said Binance.
On Monday, Binance said it is now allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service, starting with Tesla.
Written by Tanzeel Akhtar