Maybe Elon Musk has yet to issue a cryptocurrency but Binance first launched its public firm’s share tokens.
The announcement was self -uploaded by Binance today.
One of the stock tokens and the first to be launched was the Tesla stock token (TSLA), the firm founded by the world -renowned millionaire and he is also a fan of Dogecoin (DOGE).
Clearly the crypto exchange was again, each TSLA token representing one unit of Tesla stock. At the same time, trading using these tokens is also available at a zero interest rate and is open to all users of the platform through their accounts.
Binance’s latest product is entirely based on Tesla shares in a savings portfolio based on Tesla securities.
For investors ’knowledge, the product was also launched in collaboration with CM-Equity AG and asset tokenization platform, Digital Assets AG:“ Tesla share tokens in Binance will have a minimum trading size of 1/100 share token, representing the same fraction as Tesla shares.
The stock token is traded in Binance USD (BUSD), a US dollar -denominated stablecoin and is issued by Paxos Trust Co. ”
As a bonus, investors are also eligible to receive benefits provided by the firm itself to its shareholders. For example, they are eligible to receive dividends to return capital equal to underlying equity, stock divisions and so on.
One can also consider Binance’s action of introducing Tesla stock tokens as a tribute to Elon Musk who brought in crypto into the electric car manufacturing company.
Thanks to @elonmusk for bringing crypto to Tesla, so we're bringing Tesla to crypto. https://t.co/vnhhFYKHVf
- CZ 🔶 Binance (@cz_binance) April 12, 2021
